Thaindian News

By Gina Gomez
Los Angeles, Apr 27, (THAINDIAN NEWS) Playboy mogul Hugh Hefner has played a significant role in saving the iconic Hollywood sign from demolition after he donated $900,000 to prevent it from development. The whopping amount of money was donated by the soft-porn magnate to a fund that has been established to prevent the site from being developed. The 450ft long Hollywood sign, which was build way back in the year 1923, actually belongs to the city of Los Angeles but the adjoining area around it is owned by a group of investors based in Chicago.

The future of the famous sign which is synonymous with the glamorous world of Hollywood had been suffering from uncertainty after investors, who are the owners of the land which carries the iconic letters, has made it known that they were intending to sell the property. It had raised a sense of great alarm as it was being speculated that the developers would purchase the land in order to build grand homes. However, all the fear finally came to an end when the founder of the Playboy magazine shelled out the large amount of money which prevented the Hollywood sign from getting destructed.

While talking about the legendary Hollywood sign, Hugh Hefner reportedly told news sources that the sign is the Eiffel Tower of Hollywood and it symbolizes the dreams as well as the aspirations of the people all across the world. Meanwhile, this is not the first time that the Playboy mogul has come forward to showcase his support for the iconic sign. During the 1970’s, Hugh Hefner assembled donors to rebuild the sign after it became dilapidated owing to years of neglect.