Today, the Hollywood Sign is one of the most recognizable landmarks in the world. But by the late 1970s, the famous sign was on the verge of collapse.

Originally erected in 1923 as “HOLLYWOODLAND” to advertise a real estate development, the sign was never intended to be permanent. Decades of exposure to the elements left it in terrible condition. Several letters were badly damaged, one had collapsed entirely, and the structure had become a safety hazard.

In 1978, the Hollywood Chamber of Commerce launched a campaign to completely rebuild the sign. Rather than repairing the aging structure, organizers decided to replace it with new steel letters and invited celebrities and business leaders to sponsor individual letters at $27,700 each.

Among the donors was rock legend Alice Cooper, who sponsored one of the “O” letters in memory of his friend, comedian Groucho Marx. Cooper had developed a close friendship with Marx during the comedian’s later years and wanted his contribution to honor him.

Other notable sponsors included Hugh Hefner, whose fundraising efforts and personal donation helped ensure the restoration campaign reached its goal. Additional sponsors included singer Andy Williams, entertainer Gene Autry, and several local business leaders.

The new Hollywood Sign was officially unveiled on November 14, 1978, built from durable steel to withstand decades of weather. It has since become one of the world’s most photographed landmarks, attracting millions of visitors to Los Angeles every year.