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Charles Dolan, the visionary billionaire founder of HBO and Cablevision, passed away at the age of 98, his family confirmed on Saturday, December 28. Dolan, who revolutionized the media and entertainment industry, died of natural causes, according to a statement reported by Newsday. His death marks the end of an era for the media mogul, whose innovations continue to shape modern television.
Dolan’s career began in 1952, at the age of 26, when he first entered the business world in New York City. He founded Sterling Manhattan Cable in 1962, which became known for securing exclusive agreements with major New York professional sports teams, including the Knicks and the Rangers. However, it was his establishment of Home Box Office (HBO) in 1972 that truly cemented his legacy in media history.
HBO, now a household name, was initially born from an idea to distribute movies to high-end hotels in New York. In an interview with the University of Pennsylvania’s Annenberg School of Communication in 2018, Dolan shared that the success of his hotel service led to the creation of a television service for the residents of Manhattan. After securing an investment from Time Inc., the Green Channel was relaunched as Home Box Office, which would go on to change the television landscape forever.
Dolan’s forward-thinking approach didn’t stop with HBO. In 1973, he founded Cablevision, which grew into a major telecommunications provider. His contributions also extended to local news, with the creation of News12 in New York City — the first 24-hour cable channel dedicated to local news in the United States.
Dolan’s family, which also owns Madison Square Garden, has an estimated net worth of $5.4 billion, according to Forbes. Throughout his career, Dolan was known not only for his business acumen but for his ability to see opportunities where others did not, revolutionizing the entertainment and communications industries in the process.
In a statement following his passing, Dolan’s family said, “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.”
As the world mourns his loss, Dolan’s remarkable legacy in media and entertainment continues to inspire the future of television and digital content distribution.
Sources By Agencies
