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Morgan Freeman has been named the 39th recipient of the American Film Institute's AFI Life Achievement Award, becoming only the second black actor to receive the honor.
Sidney Poitier was the first recipient in 1992.
The Hollywood Reporter states that the award will be presented to Freeman at a gala tribute on on June 9 in Los Angeles and will be broadcast on TV Land PRIME later that month.
The Memphis, Tennessee native is a five-time Academy Award nominee who finally won the Oscar for best supporting actor in 2005 for his performance in 'Million Dollar Baby.'
"Morgan Freeman is an American treasure," Howard Stringer, chair of the AFI board of Trustees, said in announcing the honor. "Across decades, whether playing a prisoner, a president or God, he embodies a calm authority that demands respect for the character and for the art form. His gifts to the cultural record are also underscored by his unmistakable voice that echoes through the hearts and minds of movie lovers around the world."
The 73 year-old actor will next appear opposite Bruce Willis and Helen Mirren in 'Red,' which opens on Oct.15.