Charles F. Dolan, the founder of several major U.S. media companies, including HBO and Cablevision Systems, has passed away at the age of 98. According to a report by Newsday, Dolan died from natural causes, as confirmed by a statement from his family released on Saturday.
The family’s statement expressed deep sorrow, calling Dolan a “visionary founder” of HBO and Cablevision. Dolan’s contributions to the media industry are significant, having launched Home Box Office (HBO) in 1972, followed by the founding of Cablevision in 1973. He also started the American Movie Classics television channel in 1984 and created News 12, the first 24-hour local news channel in the U.S., based in New York City.
A native of Cleveland, Dolan left John Carroll University in Ohio to pursue his business ventures. In June 2016, he completed the $17.7 billion sale of Cablevision to Altice, a European telecommunications company.
Charles F. Dolan, who resided in Cove Neck Village on Long Island, New York, also had significant ownership in companies that controlled iconic venues and sports teams, including Madison Square Garden, Radio City Music Hall, the New York Knicks, and the New York Rangers, as reported by Newsday.
His son, James L. Dolan, served as CEO of Cablevision from 1995 until its 2016 sale to Altice. He now holds the position of executive chairman and CEO of Madison Square Garden Sports Corp., which owns the Knicks and Rangers, among other assets.
In 2008, Cablevision purchased Newsday, which later came under Altice’s control after the 2016 sale. Patrick Dolan, another of Charles Dolan’s sons, led a group that reacquired 75% of Newsday Media Group in July 2016 and later purchased the remaining 25% in 2018.
At the time of his death, Charles Dolan’s family had a net worth of $5.4 billion, according to Forbes.
Dolan was also a founder and chairman emeritus of The Lustgarten Foundation, based in Uniondale, New York, which funds pancreatic cancer research.
He is survived by six children, 19 grandchildren, and five great-grandchildren. His wife, Helen Ann Dolan, passed away in 2023, as reported by Newsday.