Dave's Record Collection: Letterman now has a label

David Letterman's Worldwide Pants has spun off a new subsidiary: a record label called Clear Entertainment. According to Spin.com, the label's first signing is Huntington Beach, CA, pop-punk quintet called Runner Runner. The band's super-fancy MySpace page has racked up over 3 million views.

Clear Entertainment is partnering with Capitol Records and Jack Ponti's MRV label to release Runner Runner's debut album in late summer. The band will be touring extensively, though it remains to be seen if a stop at the Ed Sullivan Theater will be included in their itinerary.