According to a news article, Charles F. Dolan, who established some of the most well-known media corporations in the United States, such as Home Box Office Inc. and Cablevision Systems Corp., passed away at the age of 98.
According to his family’s statement released on Saturday, Dolan passed away naturally, as reported by the New York Times late on Saturday.
According to the statement, we regret to inform you of the demise of our cherished father and grandfather, Charles Dolan, the pioneering founder of HBO and Cablevision.
The establishment of Home Box Office, which subsequently became HBO, in 1972, Cablevision in 1973, and the American Movie Classics television station in 1984 are all examples of Dolan’s impact in cable broadcasting. Additionally, he established News 12, the first 24-hour local news cable station in the United States, in New York City, according to Newsday.
After graduating from John Carroll University in the Cleveland suburbs, the Cleveland native sold Cablevision to Altice, a European cable and telecoms business, for $17.7 billion in June 2016.
According to Newsday, Dolan controlled controlling interests in businesses that owned Madison Square Garden, Radio City Music Hall, the New York Knicks, and the New York Rangers. His main residence was in Cove Neck Village on Long Island, New York.
From 1995 until Cablevision was sold to Altice in 2016, one of his sons, James L. Dolan, served as CEO. He currently serves as Madison Square Garden Sports Corp.’s CEO and executive chairman. According to the MSG Sports website, among other holdings, the corporation owns the Rangers and Knicks clubs.
With the 2008 acquisition of Newsday by Cablevision, Altice also gained control of the company. In July 2016, a company led by Charles Dolan’s other son, Patrick Dolan, bought back 75% of Newsday Media company. The remaining 25% interest was subsequently acquired by Patrick Dolan in 2018.
According to Forbes, Charles Dolan and his family were worth $5.4 billion at the time of his passing.
Dolan founded and served as chairman emeritus of The Lustgarten Foundation, a pancreatic cancer research organization located in Uniondale, New York.
Six children, 19 grandchildren, and five great-grandchildren survive him. According to Newsday, his wife, Helen Ann Dolan, passed away in 2023.
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