Move over Hard Rock, a new stone is rolling in.
Rolling Stone is about to take a leap into the entertainment industry, starting with a large-scale restaurant and nightclub in Hollywood, it was reported Friday.
The owners of the venerable magazine hope to leverage its status as a preeminent chronicler of rock music and pop culture into a new business built on food and drinks, the Los Angeles Times reported. The first Rolling Stone outpost is set to open next summer at Hollywood & Highland Center.
"We've been looking for the ideal opportunity to expand the Rolling Stone brand," co-founder and Editor Jann S. Wenner told The Times.
Running a high-profile entertainment-themed restaurant chain is not a rocking idea according to The Times. Competitors such as Planet Hollywood and Hard Rock Cafe have taken embarrassing financial thrashings in the past, though both still operate.
Hard Rock plans to open a large restaurant and bar of its own at Hollywood & Highland in May. Rolling Stone's joint will be smaller but fancier and hipper, its creators told The Times.
"The food will be higher-end than Hard Rock," Niall Donnelly, a partner of the magazine, told the newspaper. "The venue itself will be for higher- end audiences."
The Rolling Stone venue in Hollywood will operate on two tiers, Donnelly told The Times. On the top level, will be a restaurant and bar targeting the estimated 15 million tourists a year who come to the intersection near Grauman's Chinese Theatre. He also hopes to pull in local residents who may come to watch sports or have a drink.
At street level, on Highland Avenue, will be a more up-market lounge, "which will be harder to get into," Donnelly told the newspaper. The lounge may also be rented for corporate events.