California Governor Arnold Schwarzenegger confirmed the Playboy boss is among people raising more than $12 million to purchase the land back.
The Hollywood sign has been saved - thanks to Playboy magazine boss Hugh Hefner. The tycoon has offered $900,000 to preserve the land to the west of the famous Los Angeles landmark.
California Governor Arnold Schwarzenegger has confirmed that Hefner's cash had provided the state with the funds needed to save the site from development. Schwarzenegger, an early supporter of the campaign to save the sign, says, "It's a symbol of dreams and a symbol of opportunity and hope."
Hefner meanwhile said, "It's like saying let's build a house in the middle of Yellowstone Park. There are some things that are more important. The Hollywood sign represents the dreams of millions. It's a symbol. It is as the Eiffel Tower is to Paris. It represents the movies." In 1978, Hefner also played a major role in a campaign to fix the then-terribly dilapidated sign.
In total, campaigners raised $12.5 million to purchase the land back from its Chicago, Illinois owners.