Kayvan Setareh, the businessman arrested February 26 for allegedly draping a gargantuan supergraphic on a historic 1927 Hollywood bank building near the site of the upcoming Oscars, has agreed to take it down.
In exchange, he had his $1 million bail reduced to $100,000 during a hearing at a downtown Los Angeles courtroom.
Setareh was in the court room today after he was arrested on Friday night after arranging for the eight-story ad for the upcoming movie "How to Train Your Dragon" to be put up at the intersection of Hollywood Boulevard and Highland Avenue near the Kodak Theatre, the site of Sunday's Oscars.
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The City attorney's office said 49-year-old Pacific Palisades resident Setareh posted the unpermitted supergraphic despite a cease and desist letter from the city. He was arrested on three misdemeanor city code violations and given a whopping $1 million dollar bail.
City officials argued that these types of unpermitted supergraphic pose a danger to the public because the huge vinyl sheets can topple onto cars and people if they aren't attached correctly.
Setareh's arraignment was postponed till March 30 but he did agree to take down the supergraphic immediately after his bail was reduced to $100,000.
"I hope this sends a message that the days that property owners and sign companies can put up signs and get away with it are over," says Ban Billboard Blight president Dennis Hathaway who first reported about the supergraphic going up on his website. I hope this is a signal that those days are over and there is a new day dawning."