Update 2: Penn State has put out the following statement:

Legendary Penn State football Coach Joe Paterno passed away today (Jan. 22) after announcing a month ago that he was diagnosed with lung cancer. Paterno was 85.

The following statement has been issued by the Penn State Board of Trustees and University President Rodney Erickson:

We grieve for the loss of Joe Paterno, a great man who made us a greater university. His dedication to ensuring his players were successful both on the field and in life is legendary and his commitment to education is unmatched in college football. His life, work and generosity will be remembered always.

The University plans to honor him for his many contributions and to remember his remarkable life and legacy. We are all deeply saddened.

Since last night, there have been many reports about former Penn State coach Joe Paterno’s health and his death. Reports of his death came premature, and were proven false last night.

In fact, we posted a story earlier this morning about how the incident highlighted some flaws in journalism.

Now, however, the Associated Press itself has tweeted that Paterno is dead. This is unconfirmed, but the AP is supposed to be made up of “the real journalists,” so take that how you will (remember, CBS News reported him dead prematurely):

I know the AP isn’t big on others linking to their stories. I hope embedding their tweets is OK. If not, they may want to take that up with Twitter, which enables such functionality.

Update: His death is also being reported by the New York Times.

More on Joe Paterno’s death here.