Billionaire Businessman Charles Dolan passed away at 98

Published on December 29, 2024 | Published By: Aayushma | In Death

Source: PEOPLE.com

Charles Dolan is no longer alive among us.
He died on December 28, 2024 at the age of 98.
Charles was the founder of HBO, AMC, and Cablevision.

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RIP! Charles Dolan sadly passed away

Charles Dolan, the influential television pioneer who founded HBO, AMC, and Cablevision, passed away at the age of 98 on December 28, 2024.

His family confirmed that he died peacefully from natural causes, surrounded by loved ones. A family spokesperson told PEOPLE in a statement,

“It is with deep sorrow that we announce the passing of our beloved father and patriarch Charles Dolan, the visionary founder of HBO and Cablevision,”

He is survived by six children, 19 grandchildren, and five great-grandchildren. His wife, Helen Ann Dolan, passed away earlier in 2023.

Charles Dolan dies at 98 (Source: PEOPLE.com)

The statement further continued,

“Remembered as both a trailblazer in the television industry and a devoted family man, his legacy will live on.”

A Legacy of Charles Dolan

Charles Dolan was born on October 16, 1926, in Cleveland, Ohio.

He started his career by founding Sterling Manhattan Cable in 1962, which was the first urban cable television network in the United States.

In 1972, he launched Home Box Office (HBO), a service that changed the landscape of pay television and became known for its original programming.

The following year, he established Cablevision, which eventually became one of the largest cable operators in the U.S. and was sold to Altice for $17.7 billion in 2016.

Charles founded AMC Networks in 1984 and played a key role in launching News 12 Long Island, which was the first 24-hour local news channel in the United States.

In 2008, Cablevision acquired Newsday, which later came under Altice’s control after the sale.

Charles Dolan’s son, Patrick Dolan led a group that repurchased 75% of Newsday Media Group in July 2016 and acquired the remaining 25% stake in 2018.

His legacy extends beyond television. He was also a prominent figure in sports media, having acquired Madison Square Garden along with its sports teams.

His other son, James L. Dolan now serves as the executive chairman and CEO of Madison Square Garden Sports Corp., which owns the New York Knicks and Rangers among other properties.

Charles Dolan was the founder of HBO, AMC, and Cablevision (Source: PEOPLE.com)

Additionally, the late businessman was a co-founder and chairman emeritus of The Lustgarten Foundation, which focuses on pancreatic cancer research.

A statement from MSG Entertainment, MSG Sports, and Sphere Entertainment emphasized the significant influence of Charles Dolan’s vision on their companies.

The statement noted,

“Mr. Dolan’s vision built the foundation for the companies we are today, and as a member of our Boards he continued to help shape our future. The impact he made on the media, sports, and entertainment industries, including as the founder of Cablevision and HBO, is immeasurable, We do not expect this to directly or indirectly change ownership by the Dolan family”

At the time of his death, Charles Dolan and his family had an estimated net worth of $5.4 billion.

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