Billboard Bits serves up the best bite-sized nuggets of music news and gossip.

Paramore Eyeing Summer Release Date For New Music

According to Paramore's Hayley Williams, the band is likely to release new songs over the summer, which will be recorded after the band returns from its current South American Tour. This is definitely good news for Paramore fans, some of whom feared a break-up after the loss of guitarist Josh and drummer Zac Farro. The producer selected for the new material is Rob Cavallo, who is excited to work with the band again. "I'm really proud that they chose me to do this transition and when I heard the first demos, I was absolutely blown away," he said. (AOL Music)

Source: Pete Wentz 'Couldn't Trust' Wife Ashlee Simpson

According to a source close to Pete Wentz, the impending divorce of Wentz and wife Ashlee Simpson was no surprise. The couple "have been talking about splitting up forever," the source said, noting that Simpson's lifestyle of partying until sunrise did not sit well with Wentz. The Fall Out Boy bassist would constantly check in on Simpson while on the road, to the point where, the insider said, "He felt like he couldn't trust her." (Us Weekly)

'Born This Way' Fastest Selling Single on iTunes

Lady Gaga's new single '"Born This Way" became the fastest-selling single on iTunes only five days after its release. The track reached No. 1 in iTunes sales worlwide, selling more one million records in the 23 countries where the digital music store operates. This continues a trend of record-breaking numbers for Gaga following her Grammy performance last week.

Miley Cyrus Feels 'Betrayed' By Her Father's Comments

After Miley Cyrus' father Billy Ray Cyrus revealed that the TV show "Hannah Montana" destroyed his family during an interview with GQ magazine, sources say that singer/actress is "furious" for her father's comments. While Cyrus hasn't commented about this issue publicly, it seems that the 18-year-old is "mystified" about Billy Ray gabbing about his daughter's personal life in the interview. (PopEater)

Indie Rock Live Music Fans Flock to Foursquare

Decemberists fans were the most active Foursquare users in January, according to data at SuperGlued.com on New York check-ins on the social media app. Users of Foursquare appear to love indie rock and tend to frequent a small number of venues. (full story at Billboard.biz)

Smashing Pumpkins Bassist Revealed to Be 'Siamese Dream' Cover Girl

Nicole Fiorentino, the current bassist for Smashing Pumpkins, has been associated with Billy Corgan and co. longer than her year-long tenure as a member of the band. On Corgan's Twitter account, the singer revealed today that Fiorentino is one of the two young girls featured on the cover of the band's 1993 album "Siamese Dream." "Just found out the weirdest news: our bass player Nicole just admitted she is one of the girls on the cover of Siamese Dream," Corgan tweeted, later adding, "She said she didn't want us to know because she thought maybe we wouldn't let her be in the band." (@Billy)

(Reporting by Glenn Peoples, Jillian Mapes, Ricardo Gomez and Kevin Rutherford)