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âI immediately ran the other way.â That woman, if you believe the stories, was Peg Entwistleâor, rather, the ghost of Peg Entwistle, an early-film starlet who leapt 45 feet to her death from the Hollywood signâs âHâ in 1932, and who some say has haunted the famous landmark ever since.
Best Answer: The sign originally read HOLLYWOODLAND, and its purpose was to advertise a new housing development in the hills above the Hollywood district of Los Angeles. H.J. Whitley had already used a sign to advertise his development Whitley Heights, which was located between Highland Avenue and Vine Avenue. He suggested to his friend Harry Chandler, the owner of the Los Angeles Times, that the land syndicate in which he was involved make a similar sign to advertise their land.