Following up my snarky comment from yesterday --
People die, and the death itself is nothing special in and of itself. I understand ABC (and all the other stations) were looking at his legacy, etc., as much as announcing his death, but for that there was no urgency that necessitated a 2-hour special report. They could have scheduled something knowing he was dying. If that's too morbid, i.e., you shouldn't assume he's going to die so it's possible there will be more added to his legacy, then wait until the funeral (which will have at least a few days of lead time), or the selection of the new Pope (which is also news).
I have never understood the morbid fascination with death of famous people you don't know personally. Whether it be the reaction to rock stars dying young (Jim Morrison or Kurt Cobain), or world leaders dying in old age (the Pope), these are people that you have always only read about. Then there was the whole Princess Di thing. Why do people fixate on such things? I truly don't understand.