It said "WOOD", what was he suppose to do.....

Playboy founder Hugh Hefner saved the Hollywood sign today. The Hef chipped in the final $900,000 to purchase the land just to the west of the sign, saving it from potential development. The total cost for the 138-acre property was $11.7 million, up from $1.7 eight years ago.

The L.A. Times has more:

Another $500,000 matching grant came from the Tiffany Foundation and Aileen Getty, it was announced Monday by the Trust for Public Land, which spearheaded the rally to save the sign in the Hollywood Hills.

Gov. Arnold Schwarzenegger, who had been an early supporter of the effort to save the 138-acre property, attended a news conference to announce that the money had been raised. He said the Hollywood sign is a "symbol of dreams and a symbol of opportunity and hope."

When Schwarzenegger heard that developers might sell the land to build luxury homes, he said he did "What a Terminator is supposed to do, which is to jump into action."