According to a news report, Charles F. Dolan, who established some of the most well-known US media corporations, 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, Newsday reported late on Saturday. According to the statement, "We regret to inform you of the passing of our beloved father and patriarch, Charles Dolan, the visionary 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 contributions to the cable broadcasting industry.
Newsday said that he also established News 12 in New York City, the country's first 24-hour cable local news program. Dolan's "vision" was recalled in a statement from MSG Entertainment, MSG Sports, and Sphere Entertainment.
"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,” the statement said. “We do not expect this to directly or indirectly change ownership by the Dolan family.”
In June 2016, the Cleveland native, who left John Carroll University in the Cleveland suburbs, sold Cablevision to Altice, a European cable and telecoms business, for $17.7 billion.
Newsday stated that Dolan controlled 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 chair.
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. In 2018, Patrick Dolan went on to buy the remaining 25% of the business.
According to Forbes, Charles Dolan and his family were worth $5.4 billion at the time of his passing. Dolan founded and served as chair emeritus of The Lustgarten Foundation, a pancreatic cancer research organisation located in Uniondale, New York.
Six children, 19 grandchildren, and five great-grandchildren survive him. His wife, Helen Ann Dolan, passed away in 2023.
