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Speaking in an interview for the band's website, the guitarist said: "Roger (Daltrey, lead singer) is working on his own idea for an album for us, with the producer T-Bone Burnett, who is an old friend of mine."
"I am hoping to come up with some songs for a more conventional Who record," he added.
Townshend also suggested that the band could play live at the summer festivals.
"I would want to do that purely for fun, and I don't want to turn it into a big tour. I need to stay focused on my writing."
The band's Endless Wire was their first studio album in 24 years. Last June they topped the bill at the Glastonbury Festival.
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