The attack against Tennakoon, chief editor of the privately-owned Rivira weekly, and his wife came two weeks after another editor, Lasantha Wickrematunga, was gunned down in a similar attack on the outskirts of Colombo.
Since the killing of the anti-war Sunday Leader editor Wickrematunga on January 8, at least eight senior journalists and media activists have fled the island, fearing that they too could be targeted by unidentified attackers.
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Earlier this month, attackers torched a privately owned television station that had been labelled "unpatriotic" by sections of the state media for its coverage of the island's ethnic conflict.
"Journalism has perhaps become the most dangerous profession in this country," the privately run Island newspaper said in a front-page editorial on Saturday.