By Jeffrey Jolson

HOLLYWOOD, CA (Hollywood Today) 2/26/08 — Justin Timberlake, Tom Hanks, Billy Joel and Lou Reed will be inducting Madonna, John Mellencamp, Leonard Cohen and others into the Rock and Roll Hall of Fame May 10 in New York City.

Like all things related to Madonna, the timing and impact is all related. Timberlake is working with Madonna on her new studio album due out on just before the induction on April 29 according to Amazon, who is accepting pre-orders for that date.

JT will bow her into the Rock Hall, located in Cleveland, though the induction ceremony is at the Waldorf Astoria hotel in NY. Others collaborators reportedly on the urban oriented album, the last on her Warner Bros. contract, are Kanye West, Timbaland, Pharrell and Akon.

Tom Hanks will induct The Dave Clark Five, the ’60s Brit invasion band known for hits like “Glad All Over.” Hanks has a record label and his film production company named Playtone after the fictional music label in the film “That Thing You Do!,” which he wrote and directed.

Billy Joel will pay tribute to Mellencamp, and Lou Reed will honor Cohen. John Fogerty will induct The Ventures, whose hits include “Walk Don’t Run” and “Hawaii Five-O” and Ben Harper will induct R&B great Little Walter.

Singer-songwriter Jerry Butler will induct Kenny Gamble and Leon Huff, founders of the Philadelphia International record label that collaborated with R&B artists such as Butler, The O’Jays, Patti LaBelle and Lou Rawls.