Word out in L.A. Land is that around 4:45 A.M this morning a huge fire started on the backlots at Universal Studios doing what is reported to be "millions in damage". Among the buildings damaged, the most valuable may be the film vault, which is believed to have been destroyed. The Associated Press (via the New York Times) reports that the facades included New York street scenes and the street set for 1973's The Sting. The 2008 MTV Movie Awards are scheduled to be broadcast live from the park this afternoon. As of 10:00 a.m. Pacific time, the fire was still burning. Among one of the most awesome things being damaged is the famous clocktower from Back to the Future. It must be that the Back to the Future Gods are angry after recently hearing that a Back to the Future IV will NOT happen.

According to AP,

A large fire tore through a back lot at Universal Studios early Sunday, destroying a set from ”Back to the Future,” the King Kong exhibit and thousands of videos and reels in a vault. The blaze broke out on a sound stage at the theme park in a set featuring New York brownstones facades around 4:30 a.m. at the 400-acre property, Los Angeles County Fire Chief Michael Freeman said. The fire was contained to the lot but still burning several hours later.

Roughly 40,000 to 50,000 videos and reels were in the video vault, but there are duplicates stored in a different location, said Ron Meyer, NBC Universal president and chief operating officer. Firefighters managed to recover hundreds of those titles from the vault.
”Nothing is lost forever,” Meyer said.

Video and images can be seen over on KNBC.