Charles Dolan, a billionaire television pioneer, has died. He was 98.
“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 read.
Dolan’s wife, Helen Ann Dolan, preceded him in death in 2023,Newsdayreported.
Never miss a story — sign up forPEOPLE’s free daily newsletterto stay up-to-date on the best of what PEOPLE has to offer, from celebrity news to compelling human interest stories.
Charles Dolan in 1998.Catrina Genovese/Getty
Catrina Genovese/Getty
Dolan’s career kicked off when hefounded Sterling Manhattan Cable in 1962. The company had exclusive agreements with various New York sports teams.
He later went on to establish 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,CNNreported.
Dolan also launched News 12, the first 24-hour cable channel for local news in the United States, in 1986, according to Newsday.
The PEOPLE Puzzler crossword is here! How quickly can you solve it? Play now!
Charles Dolan in 1979.Dick Yarwood/Newsday RM via Getty
Dick Yarwood/Newsday RM via Getty
The businessman held controlling stakes in companies that owned Madison Square Garden and the Radio City Music Hall, as well as the New York Knicks and the New York Rangers, the outlet added.
Per CNN, Dolan was also a founder and chairman emeritus ofThe Lustgarten Foundation, which conducts pancreatic cancer research.
According toForbes, Dolan and his family have a net worth of 5.4 billion at the time of his death.
source: people.com
