The famous Hollywood sign has been saved from being spoiled by property development by a last-minute donation from Playboy mogul Hugh Hefner. He gave $900,000 to the fund which was set up to stop the site being developed.
The Hollywood sign is owned by the city, but the property around it belongs to a group of Chicago-based investors. California Governor Arnold Schwarzenegger described the news as 'the Hollywood ending we hoped for.' Governor Schwarzenegger said Mr Hefner's donation and a $500,000 matching grant brought to an end a $12.5m fundraising campaign.
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