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Slipknot Replace Gray, Jay-Z Nabs Rich List + More

  • Slipknot have announced a replacement for the late Paul Gray on their upcoming summer tour: Founding guitarist Donnie Steele, who left the band in 1996, will assume bass duties. “We thought it would be a fitting tribute to Paul to play with someone within the family,” the band said in a statement. Slipknot’s European tour kicks off June 17 in Athens, Greece. [Slipknot’s Official Site]

  • Diddy and Jay-Z have topped Forbes‘ new list of the wealthiest hip-hop artists. Sean “Diddy” Combs came in at No. 1 for a reported net worth of $475 million while Jay-Z earned second with a reported $450 million. Dr. Dre, 50 Cent, and Cash Money Records cofounder Bryan “Birdman” Williams rounded out the top five. [Forbes]

  • Capitol Records will release the Beach Boys‘ lost album Smile later this year. Dubbed The Smile Sessions, the mythic record will be available on multiple formats and has full backing from the band’s leader Brian Wilson, who released a re-recorded version of the album in 2004. [Billboard]

  • Trent Reznor has announced that he won’t be appearing in the movie Abraham Lincoln: Vampire Hunter after all, despite reports that he would have a cameo role. “At that moment, I thought I would be doing it,” he wrote on the Nine Inch Nails community message board. Reznor added that he is working on his mini-series for HBO based on the album Year Zero. [Nine Inch Nails Fan Forum]

  • After promising to revive Lilth Fair this year (despite low ticket sales and attendance for its 2010 revival), founder Sarah McLachlan changed her mind. “It’s done,” she said. “And that’s okay… Bringing the same thing back last year really didn’t make any sense, in retrospect, without due diligence on how women have changed. Because in 12 years, women have changed a lot.” [Globe and Mail]

  • Thurston Moore‘s solo album Demolished Thoughts — which is produced by Beck — will be released on May 24 on Matador Records. [Matablog]

  • Watch the spacey, black-and-white video for Lykke Li‘s sultry ballad “I Know Places (Live on the Moon)” below.