Charles Dolan, Billionaire TV Pioneer, Dies at 98

Charles Dolan, Billionaire TV Pioneer, Dies at 98.

Costfoto / NurPhoto / Getty Images

Key Takeaways

Charles Dolan, the TV pioneer who headed an empire that included Home Box Office Inc. and Cablevision Systems Corp, died yesterday at age 98.

TV pioneer Charles Dolan died yesterday at the age of 98. Image/GettyTrailblazer

According to a to Newsday, which the family owns:

“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. He is survived by his six children, 19 grandchildren, and five great-grandchildren. Remembered as both a trailblazer in the television industry and a devoted family man, his legacy will live on.”

Dolan died yesterday of natural causes, surrounded by family.

Founded HBO

Dolan’s career got started when he founded Sterling Manhattan Cable in 1962. The company was awarded rights by New York City to wire the lower part of Manhattan for cable television in 1965.

As well as HBO and Cablevision, Dolan founded the American Movie Classics (AMC) television station in 1984. He also launched News 12 in New York City, which was first 24-hour cable channel for local news.

Bought MSG in 1994

Cablevision bought a 50% stake in Madison Square Garden in 1994 (which included the arena as well as the NHL’s New York Rangers and the NBA’s New York Knicks) for $1.1 billion, from Viacom, then acquired the other 50% for $650 million in 1997.

In 2015 Dolan sold Cablevision to Altice for $17.7 billion, continuing to own AMC and Madison Square Garden. Dolan’s son, , is the executive chair and CEO of Madison Square Garden Sports Corp., which owns the Rangers and Knicks, among other properties. Patrick Dolan, another son, is the owner and publisher of Newsday.

Vast Legacy

A from MSG Entertainment, MSG Sports and Sphere Entertainment said:

“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. We do not expect this to directly or indirectly change ownership by the Dolan family.”

According to , Dolan’s net worth was $5.4 billion.

Article Sources
Nevada Law Professors Grade New Rules to Prevent Harassment at Casinos editorial policy.
  1. GVC Could Be Winning Wager Among Sports Betting Stocks, Says Deutsche Bank Analyst

Compare Accounts
×
Vici Properties Says All May Rent Paid, Provides Some Relief to Former Parent Caesars
Provider
Name
Description
Philadelphia’s Stadium Casino Gets Sports Betting License, Plans to Take Bets Before Physical Casino Opens  Illinois Horsemen ‘Blindsided’ by Churchill Downs Want State to Protect Arlington  Wynn CEO Maddox Pitches COVID-19 Plan, Pushes Sisolak to Mull May Strip Reopening  Nagasaki IR Partner Recruitment Effort Commencing Later This Month  New Atlantic City Mayor Marty Small Wants Sports Betting Revenue Tax Cut  Churchill Downs Announces Plans for $200M Track in ‘Neglected’ Northern Kentucky, Seeks Dates from Nearby Turfway  DOJ Tells Federal Appeals Court 2018 Wire Act Opinion Not a Threat to Lotteries  Kentucky Gov. Andy Beshear Allows Churchill Downs to Prepare for Racing Without Fans  Wynn Las Vegas Golf Course Reopens This Week, Tract Designed With High Roller in Mind  Pimlico Posts Record Handle for Preakness Stakes Card With Nearly $100M in Bets Placed