Capital Cities/ABC and Hearst Corp. have entered into an agreement with Time Warner Cable for continued cable carriage of the television signals of Hearst- and CapCities/ABC-owned television stations broadcasting in the markets served by Time Warner’s cable systems.

In exchange for permission to carry CapCities/ABC’s and Hearst’s stations, Time Warner Cable has agreed to launch ESPN2, a youth-oriented sports network, on a nationwide basis.

ESPN, which is owned 80% by CapCities/ABC and 20% by Hearst, recently announced that it will launch ESPN2 this fall. CapCities/ABC and Hearst are also joint venture partners in Lifetime Television and the Arts & Entertainment Network.

ESPN2 will be a second national sports programming service emphasizing the entertainment appeal of sports and designed to reach younger audiences.

Separately, CapCities/ABC announced Wednesday the purchase of WYAY-FM, a radio station serving Atlanta and Gainesville, Ga., from NewCity Communications Inc. for an undisclosed amount.

NewCity, headquartered in Bridgeport, Conn., now operates 12 radio stations around the country with the completion of this sale.

New York-based CapCities owns and operates 18 radio stations.

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