plus: Michael Jackson [ tickets ] sued. Koko Taylor and Freddy Fender released from hospitals. Carson Daly's label. Music movie from "Best in Show" guys. Virgin co-presidents exit.

Country singer-songwriter Marty Stuart is producing a Johnny Cash [ tickets ] tribute album featuring Bob Dylan [ tickets ], Bruce Springsteen [ tickets ] and Little Richard, among others, RollingStone.com reported. The album is due on May 28.

According to Variety, "Concert promoter Marcel Avram has sued Michael Jackson, claiming the pop star is looking for another promoter for an as-yet-unannounced world tour despite a signed agreement with Avram. He is seeking in excess of $20 million in damages."

The Associated Press reported that Koko Taylor has been released from a Chicago hospital, where she underwent angioplasty, and that Freddy Fender has been released from a San Antonio hospital following a kidney transplant.

Carson Daly will head a Loud Records (Wu-Tang Clan, Xzibit) imprint, the label announced. According to Loud, the imprint will be "focusing on every genre of music."

According to the Hollywood Reporter, Christopher Guest and Eugene Levy, who co-wrote "Waiting for Guffman" and "Best of Show," are working on a movie about the world of folk music. Guest and Levy will reportedly write songs for the movie with Harry Shearer and Michael McKean--with whom Guest co-starred in the heavy-metal parody film "This Is Spinal Tap [ tickets ]"--and Shearer and McKean will also be appearing in the movie.

Variety reported that Ray Cooper and Ashley Newton, co-presidents of Virgin Records America, have left the company. Producer Matt Serletic (Matchbox Twenty) reportedly is a strong candidate to take the helm