Finally, good news about the Hollywood Sign which was facing removal by a developer to build homes.

This video and article was retrieved from ABC Los Angeles News…
HOLLYWOOD, Calif. (KABC) — The fog lifted over the Hollywood sign on Monday morning, and so have all the doubts about the future of the land surrounding it. Playboy founder Hugh Hefner came to the rescue, donating nearly $1 million to save the Hollywood sign from urban sprawl.

“All of us here who love the sign, and those who admire it from around the world, say hats off to Hugh for keeping the dream alive on Mount Lee,” said Hollywood Sign Trust Chairman Chris Baumgart. The Hollywood sign is located on the southern side of Mount Lee in Griffith Park.

Gov. Arnold Schwarzenegger joined city officials to announce the news, ending efforts by conservationists to preserve 138 acres of land behind the Hollywood sign. “It’s not just to preserve the land around it, but also to protect the environment,” Schwarznegger said during a news conference. “The Hollywood sign will welcome dreamers and artists and Austrian body builders from around the world to continue coming over here for generations to come.”

Two years ago, developers put the land on the market for $22 million and advertised it as a great location for luxury homes, which prompted the Save the Peak campaign. Councilman Tom LaBonge partnered with the Trust for Public Land and made a deal with the landowners to sell it for $12.5 million.

Officials said Hefner wrote a check for $900,000, which covered the remainder of the $12.5 million needed by Friday. More than half of the money came from private donations, and the rest came from local and state government. In a statement, Hefner said, “The Hollywood sign is Hollywood’s Eiffel Tower and I am pleased to help preserve such an important cultural landmark.” The land around the Hollywood sign had been zoned to build luxury homes, but now, the land will become part of Griffith Park and the city of Los Angeles. “We have today a true Hollywood ending. We saved the peak,” said Will Rogers, president of the Trust for Public Land.

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