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Ailing Newman Gives $120M Company to Charity

Reports say movie legend dying of lung cancer

By Peter Fearon,  Newser Staff

Posted Jun 11, 2008 3:29 AM CDT

(Newser) – Movie legend Paul Newman has quietly turned over his ownership of Newman's Own cookies and salad dressing company—worth $120 million—to his charitable foundation, which helps ill and impoverished kids, reports Fox TV. News of the gift comes amid reports the gaunt 83-year-old star is dying of lung cancer; asked about his health, the former chain-smoker told Reuters, through a spokesman, he's "doing nicely."

Paul Newman looks gaunt as he watches practice for the Indianapolis 500 auto race in May.
Paul Newman looks gaunt as he watches practice for the Indianapolis 500 auto race in May.   (AP Photo/Darron Cummings)
Actor Paul Newman has turned over ownership of his $120 Million corporation to his charitable foundation. The news broke amid speculation about the actor's health.
Actor Paul Newman has turned over ownership of his $120 Million corporation to his charitable foundation. The news broke amid speculation about the actor's health.   (AP Photo/Andrei Pungovschi)
A gaunt Paul Newman watches practice for the Indianapolis 500 auto race in May.
A gaunt Paul Newman watches practice for the Indianapolis 500 auto race in May.   (AP Photo/Darron Cummings, File)
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