Page last updated at 10:58 GMT, Thursday, 25 March 2010

Hollywood sign still under threat

The Holly wood sign draped in a banner
The sign was draped in a banner to raise awareness of the campaign

The iconic Hollywood sign in Los Angeles faces demolition unless a conservation group raises $3m in three weeks to stop the site being developed.

The sign is owned by the city, but the property around it belongs to a group of Chicago-based investors.

The investors had planned to sell the land to developers, but agreed to sell to the trust for $12.5m if the money was raised by 14 April.

Actor Tom Hanks has donated to the cause which has raised $9.5m so far.

Director Steven Spielberg has also given money to the campaign.

Tim Ahern, from the Trust for Public Land, said: "We feel good about where we are and we feel good about our chances to do this."

Los Angeles council member Tom LaBonge also remained positive about the situation.

"We're getting closer to our goal and if we continue working hard, I know we'll reach it," he said.

Last month the sign was draped with a banner which read, "Save the Peak", to raise awareness of the campaign.

The Hollywood sign itself, which is set high up in the hills, was initially created in 1923 as an advert for a real estate development called Hollywoodland.



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