Hollywood Sign Saved April 27, 2010 Hugh Hefner saves Hollywood sign! The famous Hollywood sign in LA has been saved from demolition. According to the BBC, the Playboy mogul Hugh Hefner is the man responsible for saving the sign, when he stepped in at the last minute with a $900,000 (£580,000; 670,000 euros) donation to stop the site being developed. California Governor Arnold Schwarzenegger described the news as “the Hollywood ending we hoped for”. The 138 acres around the hillside sign will now be protected from developers, who wanted to turn the land into high-price housing estates. “It’s a symbol of dreams and opportunity,” Gov Schwarzenegger said.