Charles Dolan, the billionaire who founded HBO and Cablevision and whose family owns Madison Square Garden, has passed away at the age of 98, his family announced on Saturday.
According to a statement reported by *Newsday*, a Dolan family-owned publication since 2008, Dolan died of natural causes.
“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 reads.
Dolan began his career in New York City in 1952 at the age of 26.
In 1962, Dolan, the father of New York Knicks Executive Chairman James Dolan, launched Sterling Manhattan Cable, which secured exclusive contracts with New York’s professional sports teams, including the Knicks and Rangers.
In 1972, a decade later, Dolan, who was a veteran of the Air Force, created Home Box Office (HBO), a groundbreaking premium cable channel that transformed television viewing.
The following year, in 1973, he founded Cablevision, a cable company where he remained Chairman until his passing.
Dolan, whose family is estimated by Forbes to have a net worth of approximately $5.4 billion, also launched News12 in New York City, recognized as the first 24-hour local news cable channel in the United States.
He is survived by six children, 19 grandchildren, and five great-grandchildren.
His wife, Helen Ann Dolan, passed away in 2023.
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