A left over segment from the Banksy film. When the ominous talking surveillance camera speaks and states “this is private property”, it got me wondering, who owns the sign? A quick hivemind search reveals this:
Land in the vicinity of the sign remains privately owned. Much of it was owned by the estate of Howard Hughes, who had once planned a hilltop mansion at Cahuenga Peak; part of that tract was sold in 2002,[13] and the new owners are interested in exploiting a route for a road to access the property granted in 1945 by the Los Angeles City Department of Water and Power. These owners are also interested in building four luxury mansions along the ridgeline.[14] As a result, the City of Los Angeles considered buying the property, possibly by raising money from celebrities as was done for the 1978 restoration.[15]
Environmentalists and preservationists were also concerned about the possible real estate development in the area. On February 11, 2010, as part of a campaign to help raise money to buy and protect the 138 acres (0.56 km2) next to the sign, The Trust for Public Land, with the full blessing of both the city and the Hollywood Sign Trust, covered the sign with a large banner reading “SAVE THE PEAK”.[16][14] By April 26, The Trust for Public Land announced it had raised enough money, with Playboy magazine founder Hugh Hefner stepping forward to donate the final $900,000 toward the total $12.5 million needed.[13][17]
