American billionaire Charles Dolan has died at the age of 98. He was the founder of many television companies, including Home Box Office (HBO) and Cablevision Systems. This was reported by Newsday, according to CNN.
“It is with deep sadness that we announce the passing of our beloved father and patriarch Charles Dolan, the visionary founder of HBO and Cablevision,” the billionaire's family said in a statement.
It is with deep sadness that we announce the passing of our beloved father and patriarch Charles Dolan, the visionary founder of HBO and Cablevision,
It is noted that Dolan's legacy in cable broadcasting includes the launch of Home Box Office in 1972, later known as HBO, as well as the founding of Cablevision in 1973 and the American Movie Classics television station in 1984. He also launched News 12 in New York City, the first 24-hour local news cable channel in the United States.
The Cleveland native, who dropped out of John Carroll University in the Cleveland suburbs, completed the sale of Cablevision to Altice, a European telecommunications and cable company, for $17.7 billion in June 2016.
Dolan, whose primary residence was in Cove Neck, Long Island, New York, also owned controlling stakes in companies that owned Madison Square Garden, Radio City Music Hall, the New York Knicks and the New York Rangers.
James L. Dolan, one of his sons, was the CEO of Cablevision from 1995 until the sale to Altice in 2016. He is currently the executive chairman and CEO of Madison Square Garden Sports Corp. The company owns the Knicks and Rangers franchises, among other properties.
According to the publication, at the time of his death, Charles Dolan and his family had a net worth of $5.4 billion.
Dolan was also the 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.
Recall
The 39th President of the United States Jimmy Carter died at the age of 100 after refusing further treatment. The Nobel laureate had been battling melanoma and spent his last days under hospice care at home.