AOL Entertainment Group, which has been a part of the AEG banner, has purchased the Hollywood Sign for $4.5 million

AOL entertainment, which had previously announced that it would acquire the Hollywood sign in New York for $2.5 billion, is buying the iconic landmark for $1.7 billion, according to The Wall Street Journal.

The purchase will include the Hollywood Gate, which is part of a $2 billion entertainment complex that is home to The Walt Disney Co. and The Walt and Lorraine Show, which are part of ABC.

The Hollywood Gate was previously the home of the Universal Studios Hollywood and the Walt Disney World Resort in Florida.AOL Entertainment is also working on the Hollywood Theater, which will be used for new movies, including the upcoming film version of The King’s Speech.