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Kanye & Jay’s LP, Timberlake’s MySpace Stake

  • Kanye West and Jay-Z‘s collaborative album Watch the Throne is “ready to go,” says rapper CyHi the Prynce, who is signed to ‘Ye’s G.O.O.D. Music label. “All the music and everything is done.” Unconfirmed reports say the album may drop as a digital download as soon as July 4. [MTV News]

  • MySpace has been sold to an advertising network called Specific Media for $35 million, making singer Justin Timberlake a part owner of the social website. Timberlake, who starred in the Facebook movie The Social Network, will play a role in MySpace’s future: “There’s a need for a place where fans can go to interact with their favorite entertainers, listen to music, watch videos, share and discover cool stuff and just connect. MySpace has the potential to be that place,” he said in a statement. “Art is inspired by people and vice versa, so there’s a natural social component to entertainment.” [Mashable]

  • Two previously unreleased Tupac songs have surfaced online. On “Watch Yo Mouth” and “NY 87,” the Los Angeles rapper who died in 1996 at the height of the east coast-west coast rap war, disses Bad Boy Records enemies Diddy and the Notorious B.I.G., as well as Nas, De La Soul, and Wendy Williams. He even takes a shot at his Death Row collaborator Dr. Dre, rapping, “He ain’t made a beat in six years, swear he the shit.” No other details about the tracks or their release have been announced. [Baller Status]

  • Bruce Springsteen has posted the text of the eulogy he gave at the funeral last week for his friend and E Street bandmate Clarence Clemons, who died on June 18 of complications from a stroke. “Big Man, thank you for your kindness, your strength, your dedication, your work, your story,” the Boss said at the Palm Beach, Florida, ceremony. “Thanks for the miracle… and for letting a little white boy slip through the side door of the Temple of Soul.” [Bruce Springstreen]

  • A new T.I. track featuring guest vocals from Atlanta’s B.o.B. has dropped online. “We Don’t Get Down Like Y’all” is a bangin’ jam with horn effects and a hard, clattering drum beat. No word yet if the track will be officially released. [Nah Right]

  • Madonna is reportedly collaborating with producer and songwriter Jim Steinman (Meatloaf, Celine Dion) on her upcoming album. Her brother-in-law Joe Henry, who co-wrote two of Madonna’s most loved songs, “Don’t Tell Me” and “Jump,” is also working on the project. [Examiner]

  • Santa Fe, New Mexico, indie pop folkies Beirut unveiled the cover art for their next LP , The Rip Tide, out August 30, as well as North American tour dates for this summer and fall. [Pitchfork]

  • Athens, Georgia, psychedelic glam band Of Montreal released a colorful new video for “L’age D’or,” a snappy and sexy funk jam from their new thecontrollersphere EP, which dropped this spring. There are colorful outfits, streamers, tons of glitter, and a few boob shots (so be careful at work) to complement the hyper-sexualized lyrics. [Pitchfork]