was also frequently used by the producers of the late-night talk show Late Show with David Letterman, who could display a live feed from its studio on the screen as well. As a cost-saving measure, Sony declined to renew its lease of the space, leading to the subsequent removal of the Jumbotron in June 1996. Due to its frequent use by Late Show, its producer Rob Burnett jokingly considered the removal of the Jumbotron to be "a sad, sad day for New York." The last office tenants moved out of the building in 1996, and the first electronic billboards were installed the same year. In October 1996, Warner Bros. agreed to lease the building and operate a retail store at the base. The complex would include a four-story restaurant on the roof. Warner Bros. hired Frank O. Gehry to design the store, and Gehry released his plans in early 1997. The proposal called for gutting the lowest eight stories and replacing the facade with a translucent wire mesh. Jamestown ownership Late 1990s and 2000s Lehman Brothers sold One Times Square in June 1997 to Jamestown L.P. for about $110 million, four times more than what Lehman Brothers had paid for the building just two years earlier. Sherwood Equities owned a minority stake in the building and was the leasing agent for the retail space. The Warner Bros. store then opened in April 1998, occupying on three stories. The store was known as "1 Toon Square", a reference to its address. In advance of the 1999–2000 New Year's celebrations, the ball atop One Times Square's roof was replaced once again. After a portion of the building's exterior signs collapsed in March 1999, the New York City Department of Buildings ordered that four of the building's billboards be removed. Time Warner announced in mid-2001 that it would close the Warner Bros. store that October due to a decline in business. Time Warner continued to pay rent for the vacant retail space. In 2002, plans were announced for a 7-Eleven convenience store, the Times Square Brewery, and Two Boots Pizza in One Times Square. However, the planned 7-Eleven store was ultimately canceled. Jamestown then repaired 450 panels on the building's facade in the mid-2000s. During this project, one of the facade's panels fell to the ground in 2004, injuring two pedestrians. Due to the building's small size, it only housed a single office