Catering to grunge-rockers back in the early 90s, Perry Farrell of Jane's Addiction launched Lollapalooza, a festival where the world's greatest grunge acts got together and visited major North American cities. But as grunge music's popularity waned, so did the Lollapalooza tour.

Fast forward to 2005 when it was announced that Lollapalooza would be reborn as a two-day destination festival at Grant Park in Chicago, Illinois. Lollapalooza's second coming was an instant success, and now major acts from all genres play the legendary festival annually.

August 3rd to 5th, 2012, marks the 7th anniversary of the destination festival, and rumors are flying about the acts on this year's bill. Rumour has it our girl Beyonce is set to headline (!!!) but fans will have to wait until April 11th for the official lineup release.

Three-day passes for Lollapalooza 2012 are on-sale today, March 27, at 10am CDT. A limited number of early bird three-day passes will be available for $200. When this allotment sells out, regular-priced three-day passes will be available for $230. Prices are inclusive of all service fees.  For info on how you can grab tickets to this year's festival head on over to lollapalooza.com.

Check out this video recap of last year's event for an idea of what you can expect.



Will you make the trek to Lollapalooza? Who would you love to see perform? Let us know in the comments.