Charles Dolan, HBO Founder, Dies at 98, Leaving Behind $5.4B Net Worth

Photo: Instagram/@bruceblakeman

Charles F. Dolan, the founder of some of the most famous media companies in the United States, including HBO and Cablevision, has passed away at the age of 98. According to a news report, Dolan died of natural causes, as confirmed by his family. A statement from his family, released on Saturday, expressed deep sadness over his passing. "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 statement said.

Stay informed with the latest news. Follow DXB News Network on WhatsApp Channel  

Dolan made a lasting impact on cable broadcasting. He is known for launching Home Box Office (HBO) in 1972, which later became one of the biggest TV networks in the world. He also founded Cablevision in 1973 and the American Movie Classics television station in 1984. Additionally, Dolan started News 12 in New York City, which became the first 24-hour cable news channel for local news in the United States.

Dolan was born in Cleveland and attended John Carroll University in Ohio before dropping out. In 2016, he sold Cablevision to Altice, a European telecommunications company, for $17.7 billion. Dolan also had control of companies that owned Madison Square Garden, Radio City Music Hall, and the sports teams the New York Knicks and the New York Rangers.

Dolan’s son, James L. Dolan, was the CEO of Cablevision from 1995 until the company was sold in 2016. He now serves as the executive chairman and CEO of Madison Square Garden Sports, which owns the Knicks, Rangers, and other properties.

Companies like MSG Entertainment, MSG Sports, and Sphere Entertainment all praised Charles Dolan’s vision. A statement from these companies said, "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."

In 2008, Cablevision purchased Newsday, a newspaper, which later became part of Altice after the sale. However, in 2016, Charles Dolan’s son, Patrick Dolan, led a group that repurchased 75% of Newsday Media Group. Later, he bought the remaining 25% stake in 2018.

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

Apart from his business achievements, Dolan was also a founder and chairman emeritus of The Lustgarten Foundation, which works to find a cure for pancreatic cancer.

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

#trending #latest #CharlesDolan #HBOFounder #Cablevision #MediaVisionary #Legacy #PancreaticCancerResearch #MadisonSquareGarden #NewYorkKnicks #NewYorkRangers #MediaPioneer #CableBroadcasting #FamilyBusiness #EntertainmentIndustry #CharlesDolanLegacy #Altice #News12 #headlines #topstories #globalUpdate #dxbnewsnetwork #dxbnews #dxbdnn #dxbnewsnetworkdnn #bestnewschanneldubai #bestnewschannelUAE #bestnewschannelabudhabi #bestnewschannelajman #bestnewschannelofdubai #popularnewschanneldubai

Temperatures drop as NCM issues yellow alert for rough seas and advises caution....Read More.

Must-Have Fashion Pieces for Every Season in 2025 and Key Trends You Can't Miss...Read More.