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Van Halen is reportedly set to sign with Interscope Records, and the deal is expected to be finalized next week, according to the Hollywood Reporter. A source told THR that Interscope chairman Jimmy Iovine "heard the band was available and wanted to work with them. It was decided at the 11th hour." What came next was a series of meetings that presented the band with a global deal that included extensive marketing, merchandising, touring and recordings. A new album, the first studio effort with David Lee Roth since 1984, is believed to be nearly finished with the hope that it can be released in 2012. Van Halen also has been expected to make a "special announcement" on November 30 during the Grammy Awards nominations concert, which will air live on CBS. However, a source told Rolling Stone that the band will not appear at the event.