CEO Marc Bell told XBiz Thursday that the studio will be located in Glendale, Calif., which is 10 minutes away from downtown Los Angeles. “It will be in full production by June,” he said.
Bell wouldn’t elaborate on why Penthouse chose Glendale; however, the city has had Hollywood ties since the early part of the 20th Century and is home to ABC and one of the largest Los Angeles-area production facilities, Glendale Studios.
Penthouse plans on producing eight feature-length films a month at the studio, as well as talk shows, celebrity sex reports and specials including "Penthouse Goes to Spring Break."
Movie plots will be based on sex tales submitted by readers to Penthouse’s Forum and Letters columns. Programming also will include inferences to its sex toys and lingerie line. “Sixty percent of the stories in the columns are submitted by women," Bell said.
Bell raised $48 million last year in private placements and plans another $20 million to $30 million in private offerings this year. He told the New York Post that a public offering would likely be ready sometime in 2008.