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I was unaware until now that the land that the Hollywood sign sits on is owned by a Private Investors Group, who bought the land from Howard Hughes estate in 2002. The Investment group are willing to sell the land to the City of Los Angeles who own the letters but they want $12 million for it.
The City is only just shy of this money, but in the mean time a Danish architect has come up with an idea of removing the current letters and rebuilding a bigger replica with a hotel in so people can stay in the letters.
A fascinating idea for sure, but removing the icon sign and rebuilding may be a step too far. I'm sure it would make money, and would be booked out the whole time, but the sign is what many people go to Hollywood to see and I think it would loose it's appeal if changed at all.
With all this said it will loose it's appeal even more if the money is not raised and the land is used to build luxury homes as the Investment company is planning, so if it's has to change then the hotel is the better of two evils, but I'm sure we'll be seeing the current sign for years to come.