PRIME REAL ESTATE GIVEAWAY: In a collaboration with Atlantic Records and AOLMusic.com, Rolling Stone has selected 16 of what it calls “undiscovered acts” to compete for the cover of the mag—first for online votes, then live at Bonnaroo, the N.Y. Times reports. The final winners will be determined in August and, along with gracing the cover, will receive an Atlantic contract. The competition, being sponsored by Garnier Fructis, a L’Oréal unisex brand, was first annouced Monday night on Late Night With Jimmy Fallon, where the winner also will be announced and will perform in August. “We’re kind of growing our own cover organically,” said RS Deputy Managing Editor Nathan Brackett. “We’re making it something where we’re involving our readers at an unprecedented level.” The mag and AOL will cover the competition throughout, and Brackett said consulting with music industry insiders would serve bands well. “What I’m expecting is the band that wins is going to get significantly better in the next five months,” he said, hopefully. (2/16a)