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Walter Cronkite

PBS

Television's most famous news anchor is seriously ill.

Walter Cronkite, once considered the most trusted man in America, is suffering from cerebrovascular disease "and is not expected to recuperate," his family said in a statement.

The family said it was forced to speak out "to dispel false rumors." Last week news reports stated the 92-year-old former CBS News stalwart was in grave condition.

Cerebrovascular disease affects the blood vessels in the brain, according to WebMD, and is often caused by high blood pressure.

"He is resting comfortably at home with family, friends and a wonderful medical team. We thank you for your prayers and good wishes."