Charles Dolan, Billionaire TV Pioneer Who Founded HBO, AMC and Cablevision, Dies at 98: 'His Legacy Will Live on'
The businessman died "from natural causes, surrounded by his loved ones"
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Charles Dolan in October 2011.Charles Dolan, a billionaire television pioneer, has died. He was 98.
A family spokesperson told PEOPLE in a statement on Saturday, Dec. 28 that Dolan died "from natural causes, surrounded by his loved ones."
“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.
"He is survived by his six children, 19 grandchildren, and five great-grandchildren," the statement continued. "Remembered as both a trailblazer 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.Related: Charles Shyer, Father of the Bride Director, Dies at 83 After a Brief Illness: 'His Legacy Lives on'
Dolan's career kicked off when he founded 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, CNN reported.
Dolan also launched News 12, the first 24-hour cable channel for local news in the United States, in 1986, according to Newsday.
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Charles Dolan in 1979.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 of The Lustgarten Foundation, which conducts pancreatic cancer research.
According to Forbes, Dolan and his family have a net worth of 5.4 billion at the time of his death.
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