In recent news, the federal government has issued a request to remove Time Square's iconic billboards. The reason for this action is because the billboards are violating the 1965 Highway Beautification Act. As of now, if the billboards do not come down, NYC may lose up to $90 million in federal highway money. The act currently only allows for 1,200 square feet for signs. Stay tuned for developments as we track the progress of this issue.
Source: CBS New York