Basically I used photoshop. I took the eliptical marquee, and removed the P. That created a big white blank circle. So then I used the "heal" tool and borrowed scenery from the nearby area. Slowly filling it and blending it as best I could. It took about 25 minutes I think. BUt if you wanted to spend an hour or two you could get it looking nearly perfect if you wanted to.

I tried to do as you stated and life one big swoop from the left side and move it to the blank P area.. but it added a huge ring around that area. So then I tried blurring and blending and healing.. but it didn't look so nice.