The band plans to play one date, as the headliners for the 2007 Coachella Valley Music and Arts Festival, the newspaper said, citing sources.
Rage, which played at the first Coachella in 1999, joins a bill that reportedly will include Red Hot Chili Peppers and Björk for the three-day event, which is scheduled to begin April 27.
Organizers plan to announce the lineup in the next few days. It is expected to include Interpol, Willie Nelson, the Roots, the Decembrists, Arctic Monkeys, Sonic Youth and Crowded House, the newspaper said.
Tickets are set to go on sale Saturday, with three-day passes going for about $250, the Times said.