Billionaire businessman Charles Dolan, who founded HBO and Cablevision and whose family owns Madison Square Garden and a number of New York City sports teams, died on Saturday—he was 98. Dolan created Cablevision Systems Corporation in 1973, merging several small Long Island cable TV systems, according to the New York Times. At the time, the company served just 1,500 customers. But when he sold it for $17.7 billion in 2015, it supplied cable TV to over three million households in the New York metropolitan area, the Times reported. He also launched HBO in the early ’70s—it was at the time a pioneering cable TV channel that offered feature-length movies with no commercials. After his death, Dolan’s family will continue to be a powerful and influential force in the worlds of media and sports. His son Patrick is the owner of Newsday, the Long Island-based newspaper he and Charles bought in 2016. The family also owns MSG in New York City and the professional sports teams that play there, the NHL’s Rangers and the NBA’s Knicks. All three entities are led by Dolan’s son James.
Read it at The New York Times
