A nature conservation group said it has reached a deal that would protect a huge swath of land near the world-famous Hollywood sign from being developed into luxury homes.
Trust For Public Land president Will Rogers said the group secured an option to buy the 56ha parcel known as Cahuenga Peak for about US$12 million ($17.42 million) from Chicago area-based Fox River Financial Resources.
The consortium put the land on the market two years ago for some US$22 million.
Hollywood sign backdrop saved
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