Charles Dolan, the billionaire founder of HBO and Cablevision, and a trailblazer in the television industry, has passed away at the age of 98. His family announced his death on Saturday, attributing it to natural causes, according to a statement reported by Newsday, a Dolan family-owned publication since 2008.
“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,” the family’s statement read.
Pioneering a New Era in Television
Dolan’s illustrious career in media began in 1952 in New York City when he was just 26. In 1962, he founded Sterling Manhattan Cable, which secured exclusive agreements with local sports teams, including the New York Knicks and Rangers. This venture marked a pivotal moment in his career, setting the stage for his future contributions to the industry.
In 1972, Dolan created Home Box Office (HBO), the first premium cable channel, revolutionizing television by offering exclusive programming to paying subscribers. A year later, he launched Cablevision, which grew to become a significant player in the cable industry. Dolan remained the company’s chairman until its sale in 2016.
Charles Dolan: A Family Legacy and Media Empire
Dolan’s entrepreneurial vision extended beyond cable. He founded News12, the first 24-hour local news channel in the United States, further cementing his legacy as a media innovator. His family’s influence continues to shape the industry, with controlling stakes in AMC Networks and Madison Square Garden’s entertainment and sports ventures.
Forbes estimates the Dolan family’s net worth at $5.4 billion, a testament to Charles Dolan’s business acumen and enduring contributions to media and entertainment.
Charles Dolan Net Worth
Born in Cleveland, Ohio, Dolan dropped out of John Carroll University to begin his career in sports newsreels, producing content for television stations from his home. After moving to New York in 1952, he expanded into industrial filmmaking before venturing into cable television, where he wired lower Manhattan and developed HBO’s predecessor.
In 2016, Dolan sold Cablevision, the company he built from scratch with just 1,500 customers, to Patrick Drahi’s Altice for $17.7 billion. He also served as the chairman emeritus of the Lustgarten Foundation, the largest private funder of pancreatic cancer research worldwide.
Remembering a Family Patriarch
Dolan is survived by six children, 19 grandchildren, and five great-grandchildren. His wife of many years, Helen Ann Dolan, passed away in 2023.
His son, James Dolan, serves as the executive chairman of the New York Knicks and Madison Square Garden, continuing the family’s involvement in sports and entertainment.
Charles Dolan leaves behind an indelible legacy as a visionary leader whose innovations transformed the television landscape and built a media empire that continues to thrive today.
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