Walk of Fame's $4 Million Face-Lift

6:00 AM PST 11/27/2012 by Gary Baum

With chips and cracks tarnishing Hollywood's stars, an effort to clean up the mess asks reluctant studios to pony up beyond the already-steep fees.

The cash-strapped, aging Hollywood Walk of Fame is turning to the industry to help pay for its $4 million makeover. Studios and record companies already support the iconic tourist attraction in the form of $30,000-a-star "sponsorship" fees (up from $25,000 three years ago), which they dole out for talent receiving the honor. As a relatively small expense pegged to a big marketing campaign, it's justified because the unveiling inevitably results in worldwide media exposure.