Ed McMahon Dies

Ed McMahon the famous Tonight Show sidekick has died at the age of 86. He is known for sitting alongside Johnny Carson on the Tonight Show and giving the famous opening of "Heeeeeeeeeeeere's Johnny" from 1962 to 1992. NBC announced Tuesday morning that Ed McMahon has died after his battle with cancer.

McMahon was born in Detroit, but traveled around through out his childhood because of his fathers job as a pitchman. He went on to Boston College and then joined the Marines and spent two years as a flight instructor. McMahon then attended Washington's Catholic University as a drama and speech major in hopes of getting on the radio. After graduating her got a job at a Philadelphia radio station and later got his own local radio show. From there he was invited to New York to meet Johnny Carson.

Ed McMahon was there to set up Carson's jokes for years and also served as the emcee for Star Search.

Trump buying Ed McMahon's house

Real estate mogul Donald Trump reportedly is buying television personality Ed McMahon's Beverly Hills, Calif., house to save it from foreclosure.

The Los Angeles Times said Trump is purchasing McMahon's six-bedroom home, where the famous TV host and sidekick has lived for the last 18 years, for an undisclosed amount.

McMahon, 85, will be allowed to keep living there, as Trump plans to lease the home back to him, the report said.

McMahon defaulted on $4.8 million in mortgage loans with Countrywide Financial Corp. (NYSE:CFC) and faced foreclosure in two weeks if a new buyer wasn't found.

Trump told The Times it "would be an honor" to help McMahon out.

"I don't know the man, but I grew up watching him on TV," Trump told the newspaper. "When I was at the Wharton School of Business, I'd watch him every night. How could this happen?"

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The Donald Saves McMahon

Who said there's no such thing as a selfless good deed? Donald Trump proved that saying wrong when he bailed Ed McMahon out of his financial troubles by buying his house.

Trump has agreed to buy McMahon's Beverly Hills Mansion, which McMahon is about to lose, and lease it back to him so he has a place to live, according to the Los Angeles Times.

"When I was at the Wharton School of Business...I'd watch him every night," Trump said. "How could this happen?"

How much is Trump paying? No one knows for sure. The house was listed for $7 million, but the asking price has since fallen- it is now listed for $4.6 million.