Adedokun Waliyu 
At the time of his death, Charles Dolan and his family had a net worth of $5.4 billion, Forbes reported.
Charles F. Dolan, the founder of prominent U.S. media companies such as Home Box Office Inc. (HBO) and Cablevision Systems Corp., has passed away at the age of 98, according to a news report.
In a statement released on Saturday, his family confirmed that Dolan died of natural causes, Newsday reports.
“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 said.
Dolan left an indelible mark on the cable broadcasting industry, with notable achievements including the launch of HBO in 1972, the founding of Cablevision in 1973, and the establishment of American Movie Classics in 1984.
He also pioneered the concept of 24-hour local news with the introduction of News 12 in New York City. After dropping out of John Carroll University, Dolan went on to build a media empire, culminating in the sale of Cablevision to Altice for $17.7 billion in 2016.
At the time of his passing, Dolan held controlling interests in several iconic New York institutions, including Madison Square Garden, Radio City Music Hall, and the New York Knicks and Rangers sports teams, with his primary residence in Cove Neck Village on Long Island.
James L. Dolan, one of his sons, was the Cablevision CEO from 1995 until the 2016 sale to Altice. He now is the executive chairman and CEO of Madison Square Garden Sports Corp. The company owns the Knicks and Rangers franchises, among other properties, according to the MSG Sports website.
At the time of his death, Charles Dolan and his family had a net worth of $5.4 billion, Forbes reported.
He is survived by six children, 19 grandchildren and five great-grandchildren. His wife, Helen Ann Dolan, died in 2023, Newsday reported.
