Tougher Times For EMI: Citigroup is giving Guy Hands three extra months to turn EMI around. EMI who houses artists including Coldplay and Kylie Minogue must generate underlying earnings of £180m by September to meet key targets set by Citigroup. If EMI does not meets its goals, then what happens next? Most likley, there will be am extensive shakedown between Citigroup and EMI.

TVT Records Under Investigation: Creditors are claiming a financing deal between owner Steve Gottlieb and hedge fund D.B. Zwirn was aimed at diverting assets from the creditors according to the New York Post. “The creditors’ committee is conducting an investigation into the elaborate finance transactions of [TVTRecords] and its affiliates,” Richard Wolfe, the chair of TVT’s creditors’ committee, said. “I believe the scheme was designed to insulate the value of the publishing assets of [TVT] from its creditors.”

iPhone Now Welcomes File Sharing: An illegal file sharing application for the iPhone and iPod touch is now available. “We were able to download half of a full-length movie in 20 minutes, while our first song download took only three minutes over WiFi says Wired“.

Signings: Camera Can’t Lie has signed to Atlantic Records. Mercy Mercedes has signed to the Militia Group…what’s up with the Cher autotune effect?

The Lack of Memorable Talent, Makes Idol Boring: “Contestants who were good but not memorable made for mediocre television, watchers say.” “Because the talent level was so high, nothing anyone did was surprising,” Anderson said. The audience for American Idol” has dropped by about 8 percent from the nearly 31 million viewers who watched last year, but “Idol” has withstood the downturn better than many other hit series, such as “Grey’s Anatomy,” down about 20 percent.

Bruce Flohr, a former record company executive now with Red Light Management, is an “Idol” admirer but said the show has to do a better job of weeding out lesser singers who make it too easy to guess who will make it through to the end.

“Part of the problem is people are starting to use the show as a vehicle to stardom, whether they truly want to sing or not,” he said.

Listen to the track Outrage by Capital Lights. Their new record titled “This Is An Outrage” will be available July 8th via Tooth and Nail Records.

Check out the track ‘Let It Rain‘ from Hong-Kong raised Margot Blanche who describes herself as a French-Filipino NuSoul songstress with a classically alluring voice. Margot says ‘Let It Be’ was written during one of the darkest moments of her life and I don’ t doubt that…

Katy Perry’s single, ‘I Kissed A Girl‘ was added to top 40 radio. This is a good cheeze track – Katy has a good original voice. I still can’t understand why she is performing on the WARPED Tour…

Shinedown’s new single ‘Devour‘ was recently added to active rock radio as well as the 3 Doors Down new single titled ‘Train‘.

Rehab’s ‘Sittin’ At A Bar‘ was added to alternative radio…..eh! it’s alright.

Duffy’s new single ‘Mercy‘ has almost 10 million views on YouTube – except she has nothing on Amy Winehouse.

We want to hear new music, email tips@kingsofar.com

Ashlee Simpson’s single ‘Outta My Head’ represents the lowest point in modern music.

“It was written by SIX!!! people. As a comparison, ‘Yesterday’, the most covered song in history, was written by Paul McCartney, one man, in his sleep”.

“So what’s gone wrong in the last 40 years, that we’ve gone from Yesterday to “Ay ya ya ya ya”?

Paul McCartney is an English rock singer-songwriter, composer, multi-instrumentalist, poet, painter, record producer, and film producer.

“Well, McCartney was a songwriting genius, right? Well maybe, but that genius didn’t spring out of thin air. He’d done his homework, and was steeped in rock’n’roll and blues, folk, ragtime, musicals, Tin Pan Alley standards, church hymns and classical music – all influences working on him when he composed”.

“The writers of ‘Outta My Head’ are influenced by market forces and the few hit records of the last 18 months, all of which eschew melody for the novelty of the studio and the tyranny of whatever rhythm is moving the club floors at this particular moment.”

“But for the last 3 years it’s been a downward spiral, with popular music across genres deteriorating massively as writers and performers completely misplace the melody.”

Do you want to be a better songwriter? well, you have to write more meaningful melodies and lyrics that touch the soul. If you have only listened to records during the last 10 years, the chances of writing songs that touch millions of people are slim to none. Start listening to these records now…

8 albums every budding songwriter needs to hear

Courtney Scraps Album: Courtney Love has reportedly scrapped an entire album recorded with pop songwriter Linda Perry. The Hole singer, who previously worked with Perry on 2004’s America’s Sweetheart LP, apparently ditched the record to work with British musician Micko Larkin.

Change Shmame: Several local figures including legal nut job Larry Lessig plans to support Obama’s plan. Larry ‘philosophical nutjob’ Lessig is best known as a proponent of reduced legal restrictions on copyright, trademark and radio frequency spectrum. Do you know what that means my fellow artists? He doesn’t want you to get paid. There is a real sick psychology that exists that thinks getting paid for your art/creation is a mortal sin – and Lessig who is a staunch Obama supporter, is leading this crusade.

Lawsuit On Its Way: Dolly Parton intends to file a lawsuit against Howard Stern who manipulated recordings from one of her audio books into racist and sexually graphic sound bites. “I have never been so shocked, hurt and humiliated in all my life,” Parton said . “I cannot believe what Howard Stern has done to me. In a blue million years, I would never have such vulgar things come out of my mouth”. I’m thrilled Dolly is standing up for herself..

New Music: Local band based in the New Orleans, The Vettes, are getting airplay on WEZB (top 40). Upcoming film placements include MTV Movie Awards ’08’, Kill Theory, and “Final Destination 4”. Check out this video made by a fan.

Chicago Needs to Be Saved: Pete Wentz talks about Chicago’s promoters ordinance. As we mentioned yesterday, the city council of Chicago wants to bankrupt the local music community.

Recommended Listening: This Is It by Pete and J. These tracks are perfectly fitting for a soundtrack like Garden State or Juno. Hopefully these tracks will find a life of their own. Good songs, good dynamics and good songwriting…Can we say just good?

According to WIRED, Imeem has taken over Yahoo’s by becoming the No. 1 streaming music site in the United States.