The Apples in Stereo song "Stephen Stephen" recorded by The Apples in Stereo to glorify the show's host Stephen Colbert, to kick off a guitar solo contest between Colbert and Chris Funk of The Decemberists. On February 6, 2007, The Apples in Stereo released their sixth studio LP, "New Magnetic Wonder". Finishing a ten-year deal with spinART Records, "New Magnetic Wonder" was the premiere release on Simian Records, a newly formed record label founded by Elijah Wood. This was followed by a long-awaited b-sides and rarities compilation titled "Electronic Projects for Musicians", released on April 1. In 2008, spinART Records went out of business.
The Apples in Stereo Rights for all major releases by The Apples in Stereo on the label were subsequently acquired by One Little Indian Records, and have since reverted to the band. In a recent interview, Schneider noted that the band's EPs have yet to have been re-released, but will likely be collected for another compilation. Such a compilation would probably include the re-releases of "Look Away + 4", "Let's Go!" and a number of non-album songs released alongside "New Magnetic Wonder". On August 4, 2008, the band appeared again on "The Colbert Report". They performed their song "Can You Feel It?" to promote