The Hollywood sign, a beacon to stars and star-struck alike, has been saved from urban sprawl under a land conservation pact announced after a donation by Playboy founder Hugh Hefner capped a multimillion-dollar fundraising drive. It's the second time he's helped save the landmark.

"It's a symbol of dreams and a symbol of opportunity and hope," actor-turned-Gov. Arnold Schwarzenegger said at a press conference Monday below the towering letters. "The Hollywood sign will welcome dreamers, artists and Austrian bodybuilders for generations to come."