Given the task definition and input, reply with output. In this task, you are given a text of many news articles seperated by special token "|||||". Your task is to summarize them.

Ray Dolby, the inventor and engineer who founded Dolby Laboratories and pioneered noise-reducing and surround-sound technology widely used in the film and recording industries, has died in San Francisco at 80, the company announced Thursday. 
  
 Dolby had been living with Alzheimer's disease in recent years and was diagnosed in July with acute leukemia, the company said. 
  
 “Today we lost a friend, mentor and true visionary,” Dolby Laboratories President and Chief Executive Kevin Yeaman said in a statement. “Ray Dolby founded the company based on a commitment to creating value through innovation and an impassioned belief that if you invested in people and gave them the tools for success they would create great things. Ray’s ideals will continue to be a source of inspiration and motivation for us all.” 
  
 PHOTOS: Notable deaths 2013 
  
 Dolby, born in Portland, Ore., was a precocious inventor. While attending high school in San Francisco and then at Stanford University, Dolby worked at Ampex Corp., where he was the chief designer of the first practical videotape recording system. 
  
 By the end of his life, he held more than 50 patents and had received two Oscars for scientific and technical achievement, several Emmys and a Grammy. 
  
 “My father was a thoughtful, patient and loving man, determined to always do the right thing in business, philanthropy, and as a husband and father,” said David Dolby, his son and a member of Dolby Laboratories’ board of directors. “Our family is very proud of his achievements and leadership. He will be sorely missed, but his legacy of innovation will live on.” 
  
 Dolby is survived by his wife, Dagmar, his sons Tom and David, their spouses Andrew and Natasha, and four grandchildren. 
  
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 Ray Dolby, the billionaire U.S. inventor whose name became synonymous with high-end home and cinema surround sound, has died. He was 80. 
  
 He died yesterday at his home in San Francisco, according to a statement by Dolby Laboratories Inc. (DLB) He had been suffering from Alzheimer’s disease and was diagnosed in July with acute leukemia, the San Francisco-based company said. 
  
 Through the company he founded in 1965, Dolby pioneered noise-reduction and surround-sound technologies that are used in movies, cinemas, personal computers and home theater equipment. The Dolby logo -- two block-letter Ds, facing each other -- became a sign of audio quality, indicating the presence of Dolby technology that reduced the hiss from cassette tapes, for instance, or added a digital soundtrack to movies. 
  
 Tom Dolby, one of his sons, said in the statement that while his father was an engineer at heart, his achievements “grew out of a love of music and the arts.” 
  
 When Dolby Laboratories went public in 2005, its shares surged 35 percent on the first day of trading. The founder, who held more than 50 patents, received $306 million from the IPO, and his 69.8 percent stake became worth $1.65 billion. As of yesterday his net worth was $2.85 billion, according to the Bloomberg Billionaires Index. 
  
 Stanford Graduate 
  
 Dolby Laboratories, with about 1,500 employees, had revenue of $926 million in 2012, the bulk of it coming from technology licensing. 
  
 Ray Milton Dolby was born on Jan. 18, 1933, in Portland, Oregon. He received a bachelor of science degree in electrical engineering in 1957 from Stanford University in Palo Alto, California, and a doctorate in physics in 1961 from the University of Cambridge. He went to work for Ampex Corp. as chief electronics designer for the first practical videotape recording system. 
  
 In 1963, he accepted a two-year appointment as a United Nations adviser in India, and then returned to England in 1965 and founded Dolby Laboratories in London. In 1976, he moved to San Francisco, where the company established its headquarters, laboratories, and manufacturing facilities. 
  
 Two 1977 blockbuster films, “Close Encounters of the Third Kind” and “Star Wars,” used Dolby Stereo technology and made high-end audio an essential part of the films’ appeal. 
  
 In 1989, along with Dolby Laboratories executive Ioan Allen, Dolby was awarded an Oscar for continuous contributions to motion picture sound. He received an Order of the Officer of the British Empire from Queen Elizabeth in 1987 and the National Medal of Technology from President Bill Clinton in 1997. 
  
 Survivors include his wife, Dagmar; sons Tom and David; and four grandchildren, the company said. 
  
 To contact the reporter on this story: Cliff Edwards in San Francisco at cedwards28@bloomberg.net 
  
 To contact the editors responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net; Charles W. Stevens at cstevens@bloomberg.net ||||| Ray Dolby, an American inventor and audio pioneer who founded Dolby Laboratories, has died at the age of 80. 
  
 FILE - In this Nov. 1, 2012 file photo, from left, Ioan Allen, honoree Ray Dolby and presenter Walter Murch pose during the 2012 Hollywood Post Alliance awards at the Skirball Center, in Los Angeles.... (Associated Press) 
  
 FILE In this Nov. 1, 2012 file photo, Honoree Ray Dolby poses during the 2012 Hollywood Post Alliance awards at the Skirball Center, in Los Angeles, Calif. Dolby Laboratories said Thursday, Sept. 12,... (Associated Press) 
  
 FILE In this Nov. 1, 2012 file photo, Honoree Ray Dolby poses during the 2012 Hollywood Post Alliance awards at the Skirball Center, in Los Angeles, Calif. Dolby Laboratories said Thursday, Sept. 12,... (Associated Press) 
  
 FILE - In this Nov. 1, 2012 file photo, from left, honoree Ray Dolby, presenter Walter Murch and son David Dolby speak during the 2012 Hollywood Post Alliance awards at the Skirball Center, in Los Angeles.... (Associated Press) 
  
 The company said Thursday that Dolby died in his home at San Francisco. He had been living with Alzheimer's disease for several years and was diagnosed with acute leukemia this summer. 
  
 Dolby founded his namesake company in 1965 and grew it into an industry leader in audio technology. His work in noise reduction and surround sound led to the creation of a number of technologies that are still used in music, movies and entertainment today. 
  
 "Today we lost a friend, mentor and true visionary," Kevin Yeaman, President and CEO of Dolby Laboratories, said in a statement. 
  
 Yeaman said that Dolby invented an entire industry around being able to deliver a sound experience. His work spanned helping to reduce the hiss in cassette recordings to bringing "Star Wars" to life on the big screen in Dolby Stereo. 
  
 Dolby held 50 U.S. patents and won a number of notable awards for his life's work, including several Emmys, two Oscars and a Grammy. 
  
 He was awarded the National Medal of Technology from President Clinton and was inducted into the National Inventors Hall of Fame in the U.S. and the Royal Academy of Engineers in the UK, among many more honors. In 2012, the theater that serves as home to the Academy Awards was renamed the Dolby TheatreSM and the Ray Dolby Ballroom was named in his honor. 
  
 "Ray really managed to have a dream job," said Dagmar Dolby, his wife of 47 years. "Because he could do exactly what he wanted to do, whichever way he wanted to do it, and in the process, did a lot of good for many music and film lovers. And in the end, built a very successful company." 
  
 Dolby was born in Portland, Ore., and his family eventually moved to the San Francisco Peninsula. It was there that he started his professional work at Ampex Corp. working on videotape recording systems while he was still a student. 
  
 After graduating from Stanford University, he left Ampex to study at Cambridge University. Following his time as a United Nations adviser in India, he returned to England and founded Dolby in London. In 1976 he moved to San Francisco where the company established its headquarters. 
  
 Dolby's co-workers described him as inspiring and thoughtful man, who cared passionately about engineering. 
  
 "To be an inventor, you have to be willing to live with a sense of uncertainty, to work in the darkness and grope toward an answer, to put up with the anxiety about whether there is an answer," Dolby once said. 
  
 He is survived by his wife, Dagmar, his sons, Tom and David, their spouses, Andrew and Natasha, and four grandchildren. 
  
 Dolby and his wife were active in philanthropy and supported numerous causes and organizations. The Ray and Dagmar Dolby Regeneration Medicine Building at the University of San Francisco's Stem Cell Center and the Brain Health Center at California Pacific Medical Center were opened with their support. 
  
 His family described Dolby as generous, patient, curious and fair. 
  
 "Though he was an engineer at heart, my father's achievements in technology grew out of a love of music and the arts," said Tom Dolby, son, filmmaker and novelist. "He brought his appreciation of the artistic process to all of his work in film and audio recording." 
  
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You know the name, even if you didn't know the man behind it: Engineer and prolific inventor Ray Dolby—as in Dolby surround sound—has died at age 80, reports the Los Angeles Times. His namesake company pioneered technology still widely used in cinemas, the recording industry, and maybe even your home theater. As the AP puts it, "his work spanned helping to reduce the hiss in cassette recordings to bringing Star Wars to life on the big screen in Dolby Stereo." The native of Portland, Ore., held more than 50 patents in audio technology, and Bloomberg notes that he was chief electronics designer of the "first practical videotape recording system" in the early 1960s, when he worked at Ampex Corp. President Clinton gave him the National Medal of Technology, and he also picked up two Oscars, a Grammy, and several Emmys. "We lost a friend, mentor, and true visionary," says the CEO of Dolby Laboratories.