After 12 years of rocking crowds across the world, the Smashing Pumpkins’ frontman Billy Corgan has formally announced that the group will disband at the end of the year, according to MTV Online.

The band is currently touring in support of “Machina/The Machines Of God,” the group’s sixth studio album. The tour is currently scheduled through the fall.

“We’re at the end of our road emotionally, spiritually and musically,” Corgan told Los Angeles-area radio station KROQ. “We just wanted to do one more album, not because ‘Adore’ was received poorly, just to reconnect with the band’s audience. It’s about completing the circle and leaving things on a positive note.”

Corgan told KROQ that while the group will definitely be no more by year’s end, there is still much work left to be done. The group is planning on making another video and doing an episode of “VH1 Storytellers” in August. They are also planning on possibly cutting another record.

Corgan said that the band would likely head into the studio in July (following its Japanese tour) to finish off an album of material left over from the “Machina” sessions.

Everlast is recording the follow-up to his Grammy Award-nominated solo album, “Whitey Ford Sings The Blues,” and he is planning on having it in stores by October, MTV online reported.

According to Everlast’s label, he will once again team up with Carlos Santana for a song.

Everlast recently shot a video for his earlier collaboration with Santana, “Put Your Lights On,” and taped a performance of the song for an upcoming concert special, “A Supernatural Evening With Santana,” which will air on FOX next Wednesday, according to MTV Online.

Next week’s Billboard chart will have a new reigning queen as Britney Spears’ record-breaking “Oops!..I Did it Again” sold 1.3 million copies in its first week, Sound Scan reported Wednesday. That makes for the best single week for a female artist in Sound Scan history.

Spears’ position as number one will knock out N’Sync, but the popsters will be taking up the No. 4 position as Pearl Jam’s “Binaural” sold 225,000 copies in its first week, and Cash Money rappers Big Tymers moved more than 186,000 copies of “I Got That Work” to take the No. 3 spot, according to MTV Online and Sound Scan.

Two modern rock acts will join forces for a U.S. tour kicking off July 7. Third Eye Blind and Vertical Horizon will kick off their monthlong trek in St. Paul, Minn., MTV Online reported.