Lollapalooza co-founder Perry Farrell plans to launch "Satellite Party," which combines music with theater, at next month's revived festival in Chicago.

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The onetime Jane's Addiction frontman will be backed by guitarist Nuno Bettencourt, bassist Tony Kanal and percussionist Gabriele Corcos to launch "Satellite Party" and as well as songs intended for a 2006 album.

"It's about a group of artists; fine artists, filmmakers, street performers and musicians," Farrell told Billboard.com. "They hang out and put on these crazy parties. One of the crazy parties turns into a full riot and the guy who organizes them gets hurt and sent to the hospital."

The main character meets a beautiful nurse, and they get a "vast visitation of energy" while listening to the radio.

"Their souls leave, as do other souls on Earth, because that certain station pulls them up to a party with a galaxy of stars," Farrell said.

Farrell said excerpts of "Satellite Party" will be presented July 23-24 at Lollapalooza.