Charles Dolan, founder of HBO, AMC, and more, died at the age of 98 of natural causes, reports Newsday, an outlet the family owned. “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,” his family confirmed in a statement on Saturday. Dolan revolutionized television by pioneering cable television; in the 1960s, he predicted that people would pay for higher-quality premium channels through cable, installing them in buildings throughout New York with his company Sterling Manhattan Cable. In the 1970s, he founded HBO (Home Box Office), a new cable channel that, for a premium fee, would offer viewers unedited movies without advertisements or commercials. He then sold HBO to fund Cablevision, which became the fifth largest cable provider in the US.
Forbes estimates the family has a net worth of $5.4 billion, as they have controlling stakes in AMC Networks, Madison Square Garden entertainment, New York Knicks, and the New York Rangers.
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