Neil Young  is indeed recording a new studio album in Los Angeles with U2 /Bob Dylan  producer Daniel Lanois, Billboard.com can confirm. The sessions first came to light late last week in a Rolling Stone interview with longtime Young friend and bandmate David Crosby.
There's no other information about the project at present, which will be Young's first studio release since 2009's "Fork in the Road."
This is the first time Young and Lanois have worked together, and one of the first times Young has enlisted a big-name producer for one of his albums (he previously worked with Brendan O'Brien on the 1995 Pearl Jam  collaboration "Mirror Ball"). Young's close music and film collaborator, Larry "L.A." Johnson, died in January, perhaps prompting Young to try teaming with someone new.
Young is about to begin a solo North American tour, with support from Bert Jansch. The trek gets underway May 18 in Albany, N.Y., and wraps June 7 in Dallas.
- News