Charles Dolan, the billionaire television pioneer, has died. He was 98 years old.
A family spokesperson told PEOPLE in a statement Saturday, Dec. 28, that Dolan died “of natural causes, surrounded by his loved ones.”
“It is with deep sadness that we announce the passing of our beloved father and patriarch Charles Dolan, the visionary founder of HBO and Cablevision,” the statement read.
“He is survived by six children, 19 grandchildren and five great-grandchildren,” the press release states. “Remembered as both a pioneer in the television industry and a devoted family man, his legacy will live on.”
Dolan’s wife, Helen Ann Dolan, preceded him in death in 2023, Newsday reported.
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Charles Dolan in 1998.
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Dolan’s career began when he founded Sterling Manhattan Cable in 1962. The company had exclusive contracts with various New York sports teams.
He later founded Home Box Office Inc., which eventually became known as HBO, in 1972, Cablevision in 1973 and the American Movie Classics (AMC) television station in 1984, CNN reported.
Dolan also launched News 12, the first 24-hour local cable news channel in the United States, in 1986, Newsday reports.
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Charles Dolan in 1979.
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The businessman held controlling stakes in companies that owned Madison Square Garden and Radio City Music Hall, as well as the New York Knicks and New York Rangers, the news outlet added.
According to CNN, Dolan was also the founder and president emeritus of the Lustgarten Foundation, which conducts pancreatic cancer research.
According to Forbes, Dolan and his family had a net worth of $5.4 billion at the time of his death.
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