Straight from BASE Entertainment:
"It has always been our plan to feature rotating celebrities in Peepshow to keep the spirit of the show fresh and new. That said, we love Mel and she is terrific in the role as "Peep Diva". We discussed with Mel the possibility of an extension and perhaps she will return to the showsome day, however, we simply could not make the show and Mel's schedules align at this time" Scott Zeiger, Co-CEO of BASE Entertainment.
No word yet on who will replace Mel B. ...but Holly Madison is scheduled to perform as "Bo-Peep."