After Lollapalooza's dismal 2004, with the tour cancelled before it ever left the station, the groundbreaking festival hopes to re-emerge as a two-day, one-off event in 2005.

After Lollapalooza's dismal 2004, with the tour cancelled before it ever left the station, the groundbreaking festival hopes to re-emerge as a two-day, one-off event in 2005.

Lollapalooza 2005 will be held July 23-24 at Grant Park in Chicago, produced by Austin, Texas-based Capital Sports & Entertainment and Charles Attal -- who are behind the hugely successful Austin City Limits Festival -- and Lollapalooza owners William Morris Agency and Perry Farrell.

Beck, Kings of Leon, the Killers and Widespread Panic are being eyed to perform, Billboard.biz has learned. The full lineup will be announced in three weeks.

Last year's festival was to be a two-day affair featuring Morrissey, String Cheese Incident, Wilco, the Pixies, Flaming Lips and Sonic Youth, among others.

How bad actually were advance ticket sales? "The worst I've ever seen," one promoter said at the time. "I know a market in the Northeast doing two nights that went up with 450 tickets for the second night and 1,100 for the first. Other counts were less than 1,000 for both nights."

In 2003, Lollapalooza grossed $13.7 million from 25 shows, according to Billboard Boxscores.