The Weather Channel did fine for years until NBC bought them and decided the profit margin was too low. Now it shows movies and reality shows like everyone else.
In their defense, they're just not needed like they were even a decade ago. Now, go back to when Hurricane Andrew was pounding the coastline, the internet was still way too new for most people, and they got their information from local stations, and the Weather Channel.
Nowadays, I don't need the Weather Channel. I have dozens of local sources, the internet, or access via my phone, right now, in a split instant. With all of that, a dedicated weather channel doesn't have a chance.