Yea those are just rumors based around Rockstar supposedly scouting areas in and around Hollywood. "Eurogamer has also learned from an independent source that Rockstar is researching locations in and around Hollywood, although the company has retorted by declining to comment on "rumour and speculation"."

http://www.xbox360achievements.org/news/news-5849-Grand-Theft-Auto-V-Heading-to-Hollywood-.html