Alison Parker, 24, a reporter for WDBJ television news channel, and Adam Ward, 27, a cameraman, were interviewing a woman about a shopping plaza in Moneta, a small community near Roanoke city -- some 400 kilometres south west of Washington DC -- when they were shot by the gunman identified as Vester Lee Flanagan II, 41, of Roanoke.
After the shooting Flanagan fled but was later found by police in his car with gunshot wound.
"Troopers approached the vehicle and found the male driver suffering from a gunshot wound. He is being transported to a nearby hospital for treatment of life-threatening injuries," police said in a statement.
Flanagan previously worked for WDBJ under the name Bryce Williams. He was hired at the station in the spring of 2012 after working at stations in San Francisco and in Florida, North Carolina, Texas and Georgia. WDBJ let him go in February 2013, Roanoke Times reported.
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Video of the shooting was later posted on the Twitter account and Facebook page of Bryce Williams. It showed an outstretched arm holding the handgun and firing repeatedly at Parker as she tried to run away.
Part of the incident was caught on video during WDBJ TV's morning broadcast as the shocking viewers saw the grisly drama on their TVs.
Flanagan was believed to be disgruntled with the TV station.
According to New York-based Committee to Protect Journalists, since 1992 five journalists have been killed in the US.
This year so far at least 39 journalists have been killed worldwide with France, South Sudan and Syria, being the most deadly countries.
"The thoughts and prayers of everybody here at the White House are with the families of those who were injured or killed in that terrible incident," White House Press Secretary Josh Earnest told reporters at his daily news conference.