Lou Reed Back With Rock Opera, New Label

November 11 [10:00 EDT] -- The founder of the Velvet Underground is front and center this month with a rock opera, a new record label and one of the most aired songs in Britain.

The opera, "Time Rocker" by Robert Wilson, opens Wednesday, November 12 at the Brooklyn Academy of Music in Brooklyn, New York. Reed wrote 16 new songs for the production, which is loosely based on H.G.Wells' "The Time Machine." Wilson is known for his stage design, lighting and stylized direction.

As previously reported by MTV, an all-star video of Lou Reed's "Perfect Day" is receiving frequent airings as a promotional video in support of Britain's BBC. The productions includes Reed himself along with U2's Bono, Elton John, Tom Jones, Robert Cray, David Bowie, Emmy Lou Harris, Suede, M People, Boyzone and many others .

According to The Hollywood Reporter, Reed has inked an exclusive recording deal with Reprise Records. Reed is expected to make his CD debut on that label next year.