Charles Dolan dies: HBO and Cablevision founder dies at 98

Charles F. Dolan founded some of the most famous American media companies, including Home Box Office and Cablevision Systems, Passed away at the age of 98, According to news reports.

Dolan's family released a statement on Saturday saying that Dolan died of natural causes. news daily Reported Saturday night.

“It is with profound sadness that we announce the passing of our beloved father and patriarch, visionary founder of HBO and Cablevision, Charles Dolan,” the statement said.

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Dolan's legacy in cable broadcasting includes the launch of Home Box Office (later known as HBO) in 1972, Cablevision in 1973 and American Movie Classics in 1984.

He also founded News 12 in New York, the first 24-hour local news cable channel in the United States. news daily the report said.

The Cleveland native, who dropped out of John Carroll University in suburban Cleveland, completed the sale of Cablevision to European telecommunications and cable company Altice in June 2016 for $17.7 billion.

Dolan, whose primary residence is in Cove Neck Village on Long Island, New York, also holds controlling interests in Madison Square Garden, Radio City Music Hall and companies that own the New York Knicks and New York Rangers sports franchises. news daily the report said.

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One of his sons, James L. Dolan, served as Cablevision's CEO from 1995 until its sale to Altice in 2016.

He is now executive chairman and CEO of Madison Square Garden Sports.

The company owns assets of teams including the Knicks and Rangers, according to the MSG Sports website.

A statement from MSG Entertainment, MSG Sports and Sphere Entertainment recalled Dolan's “vision.”

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“Mr. Dolan's vision laid the foundation for the company we are today, and as a member of the Board of Directors, he continues to help shape our future. The impact he has had on the media, sports and entertainment industries, including as Cablevision and HBO, is immeasurable, “The statement said.

“We do not expect this to change the ownership of the Dolan family, either directly or indirectly.”

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Newsday, which Cablevision acquired in 2008, also fell under Altice's control with the sale.

A group led by Charles Dolan's other son, Patrick Dolan, bought back 75% of Newsday Media Group shares in July 2016.

Patrick Dolan subsequently purchased the remaining 25% in 2018.

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Charles Dolan and his family had a net worth of $5.4 billion ($8.6 billion) at the time of his death, Forbes the report said.

Dolan is founder and chairman emeritus of the Lustgarten Foundation in Uniondale, New York, which conducts pancreatic cancer research.

He is survived by six children, 19 grandchildren and five great-grandchildren.

His wife, Helen Ann Dolan, died in 2023; news daily the report said.

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