Designation of a property as a National Historic Landmark does not give ownership of the property to the Federal government in general or the National Park Service in particular. National Historic Landmarks are owned by private individuals; by local and state governments; by tribal entities; by non-profit organizations; and by corporations. The Federal government owns fewer than 400 NHLs (17%). The laws that govern property rights still apply to designated landmarks.

Upon designation, the National Park Service is tasked with reporting on the condition of the landmark through periodic status updates provided by NHL owners (stewards). Beyond that, the Federal government has no ongoing role with the landmark.

Shreveport Municipal Memorial Auditorium, LA: The Louisiana Hayride, a weekly country music show broadcast by radio station KWKH live from the stage of the Shreveport Municipal Memorial Auditorium, introduced, promoted, and nurtured a phenomenal number of extraordinarily talented musicians and songwriters who later achieved national prominence in American music. The Hayride earned the nickname “Cradle of the Stars” because it repeatedly premiered talented artists who rose to stardom and then left for Nashville's Grand Ole Opry, considered the Mecca of country music.