Reuters Entertainment News Summary

Following is a summary of current entertainment news briefs.

Who needs an Oscar? Hollywood basks in industry's comeback

LOS ANGELES (Reuters) - The moguls of Hollywood might engage in more backslapping than usual at Sunday's Oscars, and it won't necessarily be over those golden statuettes. The tuxedoed movie studio chiefs can boast about an unusually large number of blockbuster films in 2012 that lifted ticket sales for the first time in three years and stemmed a seven-year free fall in sales of DVDs and other home entertainment products.

Aerosmith's Tyler, Perry lead Songwriters Hall of Fame inductees

LOS ANGELES (Reuters) - Aerosmith song-writing duo Steven Tyler and Joe Perry headline this year's class of inductees into the Songwriters Hall of Fame, the organization said on Friday. Singer Tyler and guitarist Perry wrote such rock classics as "Dream On," "Walk This Way" and "Love in an Elevator" since the band formed in 1970 and went on to win four Grammy awards.

Jay-Z, Timberlake announce summer tour

NEW YORK (Reuters) - Rapper Jay-Z and Justin Timberlake are teaming up for a 12-city summer stadium tour that will include concerts in New York, Los Angeles, San Francisco and Chicago, music promoter Live Nation said on Friday. The "Legends of the Summer" tour will kick off at the Roger's Center in Toronto on July 17, and finish on August 16 at the Sun Life Stadium in Miami.

"Zero Dark Thirty": too cool, or too controversial for Oscars?

LOS ANGELES (Reuters) - Just three months ago, "Zero Dark Thirty" looked like a strong contender for the movie industry's biggest prize. But when the Oscar for Best Picture is handed out on Sunday, the thriller about the decade-long U.S. hunt for, and 2011 killing of, Osama bin Laden is unlikely to get its name engraved on the coveted gold statuette.

Andy Warhol works to be auctioned in cybersale

NEW YORK (Reuters) - Seasoned art collectors and first-time buyers wanting to own an Andy Warhol will get their chance next week when 125 paintings, drawings and photographs by the artist will be auctioned in a week-long cybersale. The global online auction from February 26 through March 5 will include works with estimated values ranging from $600 to $70,000 and bring Warhol to a much broader audience.

"Beasts" comes to Oscars with tiny budget, first-time director

LOS ANGELES (Reuters) - "Beasts of the Southern Wild", nominated for four Oscars including Best Picture, is one the most unlikely contenders ever for Hollywood's top honors. Produced for just $1.5 million by a collective of first-time filmmakers who bunked in a fishing shack during the shooting, it is considered a long-shot to win the top Oscar, but it has already set a new standard for thrifty filmmaking in an industry that routinely spends 100 times more for a major picture.

Chicago bluesman Magic Slim dead at 75

LOS ANGELES (Reuters) - Guitarist Magic Slim, a mainstay of the Chicago blues scene who followed in the footsteps of such greats as Muddy Waters and Howlin' Wolf, died on Thursday at age 75, his manager said. Slim, the son of Mississippi sharecroppers, gave up the piano and turned to guitar after losing his right pinky finger in a cotton gin accident at age 13. He died at a Philadelphia hospital where he had been under treatment for various ailments, manager Marty Salzman said.

Lady Gaga has hip surgery, calls injury "bump in the road"

LOS ANGELES (Reuters) - Lady Gaga said she has undergone surgery to repair an injured hip that forced the pop singer last week to cancel the remainder of her concert tour. The "Born This Way" singer thanked fans in a blog post on her fan website on Thursday, saying the setback was "just a bump in the road."