While Billy Corgan's desire to be an 'American Idol' judge remains unfulfilled, Smashing Pumpkins fans still have something to look forward to -- a June 18 release date has been announced for 'Oceania,' the band's first album since 2007's 'Zeitgeist.'

The disc is being  produced by Corgan and is part of 'Teargarden by Kaleidyscope,' a long-in-the-works project started by the band back in 2009 that's said to encompass 44 songs that are slated to be given away for free. Does that mean 'Oceania' will in fact be available free of charge? The world will just have to wait and see.

The disc will be released through a partnership with EMI Label Services/Caroline Distribution, similar to the arrangement that offered the Pumpkins' 1991 debut album, 'Gish.' “We are thrilled to extend the long-term partnership between the Smashing Pumpkins and EMI with the release of Oceania," EMI EVP/GM Mike Harris says in a statement. "Everybody at EMI Label Services is looking forward to working closely with Billy and the band to help them deliver their vision and their music to fans around the world.”

Not much else is known about 'Oceania,' although Corgan previously took to his Twitter account to reveals that the album would be comprised of 13 songs and run "approx 60 minutes and 9 seconds," although it was also supposed to drop last November, so take that with a grain of salt.

Corgan dropped one more tidbit with a Twitter post late Tuesday (March 27) afternoon: "And for those interested the use of the title 'Oceania' has no connection to Orwell or 1984. It has everything to do with my life."

Interesting, Mr. Corgan. Very interesting.

More From Diffuser.fm