TORONTO - TV journalist Jim O'Connell, one of the Business News Network channel's key hosts, has died of colon cancer that was detected in February.

O'Connell, who was 48, is survived by his wife Dr. Lisa Ramshaw, son Daniel, 18, and stepson Aaron, 25, the specialty channel said Friday.

O'Connell helped launch Canada's business channel Report on Business Television, now known as BNN, in 1999. He went on to assume numerous senior editorial roles, including most recently as host of the network's flagship program, Market Call.

Before joining BNN, O'Connell had an extensive career in journalism, including more than two decades with CTV News, reporting out of Ottawa, Winnipeg, Toronto and serving as bureau chief in Washington and London.

He also served as host and correspondent for CTV's investigative news series W-FIVE.

"Jim was one of the country's finest and most respected journalists,'' Jack Fleischmann, BNN's general manager, said in a release.

"Above all, he had a special place in his heart for his audience and will be missed by thousands of Canadians who have come to trust and depend on his judgment. For all of us who worked with Jim he was more than a colleague -- he was a friend.''

Physical fitness was one of O'Connell's passions and he ran in marathons around the world.

Funeral arrangements are pending.