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No, it's not Coachella.
Radiohead announced that they'll be headlining Portugal's Optimus Alive festival, which is set to take place between July 12 and 15 next year in Lisbon in addition to the 10-date North American tour for February 2012 and five shows across Europe for June and July that they've already confirmed.
The band are expected to announce UK and more European dates in the coming weeks. Perhaps we'll get a Coachella announcement around then too.