Renowned cable television pioneer and founder of HBO, Charles Dolan, has passed away at the age of 98. Dolan’s family released a statement on Saturday (December 28) announcing that he passed away from natural causes.
In his significant career in the cable television broadcasting field, Dolan’s major achievements include founding Home Box Office (later known as HBO) in 1972, establishing Cablevision in 1973, and launching the American Movie Classics television channel in 1984.
According to reports from Reuters, Dolan’s children stated in the announcement, “It is with heavy hearts that we announce the passing of our beloved father and visionary founder of HBO and Cablevision, Charles Dolan.”
Additionally, as reported by the family-owned publication Newsday, Dolan also founded the first 24-hour cable channel to broadcast local news in New York City, News12.
Newsday commended Dolan in their coverage, stating, “As a pioneer in the television industry and a devoted family man, Charles Dolan leaves behind a lasting legacy.”
Dolan’s life story is truly legendary. He dropped out of John Carroll University in the suburbs of Cleveland at a young age and ventured into entrepreneurship. In June 2016, he sold the company he founded, Cablevision, to European telecommunications and cable television company Altice for $17.7 billion.
As of Dolan’s passing, according to Forbes, his and his family’s net worth was $5.4 billion. His primary residence was in Cove Neck Village on Long Island, New York, and he also held ownership stakes in various companies, including the Madison Square Garden Company, Radio City Music Hall, the New York Knicks, and the New York Rangers.
Dolan is survived by 6 children, 19 grandchildren, and 5 great-grandchildren. His wife, Helen Ann Dolan, passed away in 2023, according to Newsday.
One of his sons, James L. Dolan, served as the CEO of Cablevision from 1995 until its sale to Altice in 2016. He currently serves as the Executive Chairman and CEO of the Madison Square Garden Company, which owns operating rights to the Knicks and Rangers teams, among other ventures, as described by MSG Sports website.
Following Cablevision’s acquisition of Newsday in 2008, the newspaper was also sold to Altice. Another son of Dolan, Patrick Dolan, repurchased 75% of Newsday Media Group in July 2016 and later acquired the remaining 25% in 2018.
Dolan was also the founder and honorary chairman of the Lustgarten Foundation, based in Uniondale, New York. The foundation primarily focuses on pancreatic cancer research.