The billionaire TV pioneer who founded HBO, AMC was 98

Charles Dolan, a billionaire television pioneer, has died. He was 98 years old.

A family spokesperson told PEOPLE in a statement Saturday, Dec. 28, that Dolan died “of natural causes, surrounded by loved ones.”

“It is with deep sadness that we announce the passing of our beloved father and patriarch Charles Dolan, the founding visionary 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 pioneer 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, News day reported.

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Dolan’s career began when he founded Sterling Manhattan Cable in 1962. The company had exclusive deals with various sports teams in New York.

He later founded Home Box Office Inc., which eventually became known as HBO, in 1972, Cablevision in 1973, and American Movie Classics (AMC) in 1984. CNN reported.

Dolan also launched News 12, the first 24-hour local news cable channel in the United States, in 1986, according to Newsday.

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The businessman held controlling stakes in companies that owned Madison Square Garden and Radio City Music Hall, as well as the New York Knicks and New York Rangers, the station added.

According to CNN, Dolan was also founder and chairman emeritus of Lustgarten Foundationwho conducts pancreatic cancer research.

Conformable ForbesDolan and his family had a net worth of $5.4 billion at the time of his death.