Major Music Labels Near Deal with Myspace: MySpace’s plan to launch a digital-music joint venture with the major record companies is quickly becoming a reality according to the NY Post. Once again, the deal is all about advertising dollars. The labels are trading content rights in exchange for minority equity stakes in MySpace Music and the chance to capitalize in the advertising revenues that myspace hopes to generate from the service.

Connecting with Fans: Check out the article that comes from the Canadian Press titled ‘Musicians seek extra ways to connect with fans, build market‘. “As this business has gone through tremendous change in the last five or six years, it’s simply the way it has to happen,” Arts and Crafts executive Kieran Roy says of the many ways artists are squeezing marketable material out of their musical exploits. “It’s not enough to go and record 10 tracks and call it an album and call it a day. There has to be live content, B-sides, covers, EPK footage, web shorts, videos, podcasts, audiocasts, videocasts, you name it – everything and anything under the sun. And these are all ways for artists to further develop a relationship and loyalty with their fan base.”

The Smashing Pumpkins Sue Virgin: The Smashing Pumpkins are suing Virgin Records, saying the record label has illegally used their name and music in promotional deals that hurt the band’s credibility with fans. The Pumpkins said they have “worked hard for over two decades to accumulate a considerable amount of goodwill in the eyes of the public,” and that Virgin’s use of the band in a “Pepsi Stuff” promotion with Amazon.com and Pepsi Co. threatens their reputation for “artistic integrity” according to AP.

Honestly, I thought the integrity began its downward spiral when Billy Corgan announced a reunion tour in 2006, allowing fans to believe it was the original line up with guitarist James Iha and bassist D’arcy. Is this lawsuit about true artist integrity or the lining of pockets?

Penny Smart: Pennywise’s new album has been downloaded over 500,000 times through clever marketing promotion and part of an ad-supported promotion, according to Digital Music News.

Merging Satellites – SiriusXM: Not everyone is excited of the approved merger of Sirius and XM. “We are astonished that the Justice Department would propose granting a monopoly to two companies that systematically broke FCC rules for more than a decade,” National Association of Broadcasters spokesman Dennis Wharton said. “To hinge approval of this monopoly on XM and Sirius’ refusal to deliver on a promise of interoperable radios is nothing short of breathtaking.”

New Music: Check out the track Crazy Beautiful from the christian rock alternative act Chasen. OMG Records signed the band and their first single quickly became a hit on top 40 christian radio. “It’s amazing to see how quickly radio has embraced ‘Crazy Beautiful,’” said Gene Krcelic, founding partner at OMG. “I don’t know that we could have asked for a better setup leading into the launch of the full project in 2008.” The new single ‘If It Comes Down’ can be heard here.

Recommended Listening: Listen to In Pursuing Design by female fronted VersaEmerge. They have a slew tour dates which can be found on their myspace.

Kings of A&R: We want to hear new music. Send us a link to your myspace and let us know what song we should be listening too. Email tips@kingsofar.com. We are in a high energetic mood right now, no sappy music please.