Charles Dolan, Cablevision and HBO Founder, Dies at 98
Published On Dec 29, 2024, 8:53 AM
Charles Dolan, the founder of HBO and Cablevision, passed away at the age of 98. He transformed the cable television industry and built a media and sports empire, including ownership of Madison Square Garden and the New York Knicks. His efforts were crucial in establishing cable TV as a major part of American culture in the late 20th century. Dolan sold Cablevision to Altice USA for $17.7 billion in 2016, while his family retained key interests in local news operations.
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With the passing of Charles Dolan, media companies linked to his legacy, such as Altice USA, may see market volatility primarily due to sentimental factors and potential shifts in management. However, as Dolan's influence was substantial, the long-term effects on companies like Altice should be reassessed based on operational performance and market conditions rather than just this event.