According to a statement issued Saturday by his family, Dolan died of natural causes. He was the creator of a television empire.
Charles F. Dolanfounder of some of the most important media companies in the United States, such as Home Box Office Inc. (HBO) and Cablevision Systems Corp. died at the age of 98. According to a statement issued by his family on Saturday, Dolan died of natural causes, the Newsday portal reported.
“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.”says the statement. Dolan’s legacy in cable television broadcasting includes the 1972 launch of Home Box Office, later known as HBO, and the founding of Cablevision in 1973 and the American Movie Classics channel in 1984. He also launched ‘News 12’ in New York, the first 24-hour cable channel for local news in the US.
The legacy of Charles Dolan
The Cleveland native, who dropped out of John Carroll University in suburban Cleveland, 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 Village, Long Island, New York, He also had controlling stakes in companies that owned Madison Square Garden, Radio City Music Hall, and the New York Knicks and New York Rangers sports franchises..
James L. Dolan, one of his sons, was CEO of Cablevision from 1995 until the 2016 sale to Altice. He is now executive chairman and CEO of Madison Square Garden Sports Corp. The company owns the Knicks and Rangers, among other properties, according to the MSG Sports website.
A statement from MSG Entertainment, MSG Sports and Sphere Entertainment recalled Dolan’s “vision.” “Mr. Dolan’s vision built the foundation of the companies we are today, and as a member of our Boards of Directors he continued to help shape our future. The impact he had on the media, sports and entertainment industries entertainment, even as founder of Cablevision and HBO, is immeasurable,” the statement said. “We do not expect this to directly or indirectly change the ownership of the Dolan family.”
At the time of his death, Charles Dolan and his family had a net worth of $5.4 billion, Forbes reported. Dolan was founder and president 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.
Source: Ambito
