30 Seconds Sued For 30 Million: 30 Seconds To Mars and front man Jared Leno is being sued by Virgin Records for violating their recording contract. According to the contract, the band owes Virgin Records 3 records. The band’s last album, “A Beautiful Lie,” was released in 2005. However, the band split from the label and Virgin Records insist that they have rights to claim a financial loss.

Platinum Artists Becoming Extinct: According to Music Week platinum artists and beyond has fallen to its lowest level this decade, with just two artists making the grade so far this year. Duffy and Adele are the only UK artists with debut albums released this year that have to date shifted 300,000 units or more. There were nine platinum-selling debut artists in 2006.

More Questions: Sirius-XM merger’s approval opens up a new set of questions, read here.

Shrinking Salaries: Music exec’s salaries are shrinking says the New York Post. “Multiple sources said that labels have cut back on long-term contracts with guaranteed money. New deals tend to be more performance-driven and are often limited to 2-to-3 years in length.” Another source claims that music companies money troubles are preventing them from competing aggressively for top talent.

14 Years In The Making: Guns N’ Roses track titled ‘14 Years‘ that comes off ‘Use Your Illusion’ may have just been a prophetic song because the long awaited Chinese Democracy has been 14 years in the making. Apparently, the negotiations are under way for “Chinese Democracy” to come out as an exclusive at either Wal-Mart or Best Buy.

Katy Perry On Trial: If you don’t like ‘I Kissed A Girl‘ then you’re not alone. Perry’s parents are embarrassed by the song. The daughter of evangelical Christian preachers is deemed “shameful and disgraceful” with the lyrics of the song that promotes “sin”. Speaking to DailyMail.co.uk, Perry’s mom, Mary Hudson said, “I hate the song. It clearly promotes homosexuality and its message is shameful and disgusting.” She added that this is no longer a secret, saying, “Katy knows how I feel. We are a very outspoken family and she knows how disappointed her father and I are.