The legendary music aficionados' magazine Rolling Stone is getting into the food business by opening a Los Angeles restaurant that could, if successful, be the beginning of a themed chain to rival the likes of Planet Hollywood and the Hard Rock Cafe.

Rolling Stone's publisher, Jann Wenner, announced that the publication was going into business with Lucky Rug, a nightlife company co-founded by Irish entrepreneur Niall Donnelly who has opened a series of upscale bars in London. The first Rolling Stone venue will combine a restaurant, bar and lounge area in the heart of Hollywood in southern California, near the famous Kodak Theatre and Walk of Fame.

"We've been looking for the ideal opportunity to expand the Rolling Stone brand for some time," said Wenner. The magazine, which began publishing in 1967, has already branched into books and video games. The 10,000 sq ftrestaurant will eschew overt rock memorabilia in favour of "timeless" black brick walls, leather furnishings and vaulted ceilings.

Rolling Stone is renowned for its rock star interviews, influential music reviews and for sporadic forays into political commentary. Its famed writers have included Hunter S Thompson and PJ O'Rourke. The magazine ruffled feathers on Wall Street this year with a feature by journalist Matt Taibbi that compared the investment bank Goldman Sachs to a giant blood-sucking vampire squid.