Although Public Enemy, formed by artists Chuck D, Flavor Flav, Professor Griff and DJ Lord, never topped the charts during their three-decade career, the group is known for giving hip hop a political and social conscience in the 1980s and early 1990s. They explored American race relations with songs such as "Fight the Power" and "911 Is a Joke".
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Randy Newman, known for his sharp, ironic pop songs, has won two Oscar awards for songs he penned for "Monsters, Inc." and "Toy Story 3," and six Grammys for his film work.
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Heart scored hits with "Magic Man" in 1976, "These Dreams" in 1986 and "Alone" in 1987, while Rush is recognized for complex rock songs that draw on blues.
King, who died in 1992 at age 69, was a towering figure in American blues guitar, with hits such as "Don't Throw Your Love on Me So Strong" in 1961 and "Born Under a Bad Sign" in 1967.
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The eight inductees were chosen from a shortlist of 15 nominees. Those missing the cut include German electronic music ground-breakers Kraftwerk, rock group Joan Jett and the Blackhearts, rappers N.W.A. and rock band Deep Purple.
The inductees were chosen by some 500 voters of the Rock and Roll Hall of Fame Foundation, which includes past inductees, and for the first time this year fans were also allowed to vote.
Candidates for the Cleveland-based Hall of Fame must have released their debut album or single at least 25 years before 2012 to be eligible.