The famous Hollywood sign in Los Angeles was saved from near destruction a few weeks ago.
The landmark has been at the center of a $12.5m campaign to stop it being torn down to make room for property development in the surrounding area. Playboy owner Hefner stepped in with a $900,000 donation - that means the 138-acre site around the sign will now be protected.
California governor Arnold Schwarzenegger described the news as "the Hollywood ending we hoped for". He said: "It's a symbol of dreams and opportunity. The Hollywood sign will welcome dreamers, artists and Austrian bodybuilders for generations to come."
The sign is owned by the city of Los Angeles, but until recently the area surrounding it, named Cahuenga Peak, was the property of a Chicago-based group who had planned to sell it to developers.
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