(fxcue news) - Charles Dolan, the founder of major US media companies Home Box Office Inc. or HBO and Cablevision Systems Corp., died of natural causes at the age of 98. In a statement, his family said, "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." Dolan launched Home Box Office, later known as HBO, in 1972, and Cablevision in 1973. He also launched the first regional sports and news networks. He is the founder of the American Movie Classics television station, as well as News 12 in New York City, which was the first 24-hour cable channel for local news in the U.S. In 2016, Cablevision, where Dolan's son James Dolan was the CEO since 1995, was divested to Altice, a European telecommunications and cable company, for $17.7 billion. The Dolan family also owns the Madison Square Garden Entertainment Corp., the Madison Square Garden Sports Corp., and the MSG sports-programming cable TV stations, which are run by James Dolan. Meanwhile, his another son, Patrick Dolan, led a group that repurchased 75% of Cablevision -owned Newsday Media Group in 2016 from Altice. He also bought the remaining 25% of Newsday Media stake in 2018. AMC Networks, once part of Cablevision, and still controlled by the Dolans, called Dolan "a visionary, a bold and fearless entrepreneur and, most importantly, a wonderful family man." According to the firm, his dedication and perseverance led him to build companies that profoundly reshaped media and technology. Forbes reported that Dolan and his family, at the time of his death, had a net worth of $5.4 billion. His wife, Helen Ann Dolan, died in 2023. Dolan, who hails from Long Island in New York, is survived by six children, many grandchildren and great-grandchildren.