Tom Petty News

The "Amerian Girl" singer has signed a new recording contract with renowned producer Rick Rubin's American Recordings.

The agreement means Petty will remain under the aegis of Warner Bros. Records, which released his previous four albums and recently reacquired distribution for American Recordings from Universal. The initial album to be released will be Highway Companion, Petty's first solo effort in more than a decade, free-fallin' into stores July 25.

The first single, "Saving Grace," made its world premiere during ABC's telecast of the June 8 NBA Finals game between the Dallas Mavericks and the Miami Heat. The song is being video streamed on the rocker's Website and will be available for download via iTunes and other online music services on July 4.

Highway Companion was produced by Rubin, Petty, Jeff Lynne, Petty and Heartbreaker Mike Campbell. It features 12 new ditties by the easy-rocking crooner, including the aforementioned lead single along with "Flirting with Time," "Turn This Car Around" "Night Driver," and "Saving Grace."

"It's just really a nice collection of songs," Petty told Billboard earlier this year. "I think it does have an underlying theme of time and what it does to you."

While Petty played most of the instruments on the disc, Campbell contributed some lead guitar and vibraphone and Lynne chipped in on bass, keyboards, backing vocals and autoharp.

"Having Tom on American is a dream come true for me," Rubin said in a press release. "Tom is the consummate craftsman when it comes to recording, and has written great songs consistently for thirty years."

The producer's history with Petty dates back to the Rock and Roll Hall of Famer's 1994 solo disc, Wildflowers, followed by Petty and the Heartbreakers' 1995 soundtrack to the movie She's The One, and the 1999's Heartbreaker release, Echo. He also oversaw a handful of collaborations between Petty and Johnny Cash for the latter's acclaimed American Recordings series of albums, including the hit duet of Neil Diamond's "Solitary Man."

Before starting American Recordings in the mid-'90s, Rubin cofounded Def Jam records in the mid-'80s with partner Russell Simmons. Rubin is credited with helping fuse rap and metal, most notably pairing Run-D.M.C. with Aerosmith in the 1987 rap version of "Walk This Way." He has also shepherded albums by the Beastie Boys, Jay-Z, Metallica and the Red Hot Chili Peppers. (Coincidentally or not, there have been grumblings that the Chili Peppers' new track "Dani California" was a tad too similar to the Heartbreakers' hit "Last Dance with Mary Jane.")

Petty and the Heartbreakers are expected to stick several Highway's tunes in the setlists for their 2006 Highway Companion tour. The trek kicked off its summer run last week in Charlotte, North Carolina, with former Phish frontman Trey Anastasio as the opener. Other guests joining them on tour will include Pearl Jam and the Allman Brothers Band.

The Heartbreakers are one of the headliners for this weekend's Bonnaroo festival in Manchester, Tennessee, and are also among the top attractions for South Dakota's inaugural Rock N' Rally summer music festival Aug. 6-10. (That bill features another Rubin-hatched group, the Black Crowes.) Petty and the Heartbreakers will wrap up their road show Aug. 30 in Houston.