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
Ailing Newman Gives $120M Company to Charity
Paul Newman looks gaunt as he watches practice for the Indianapolis 500 auto race in May.   (AP Photo/Darron Cummings)

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." (More Paul Newman stories.)

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