POLITICO reported Chalian was caught making the remarks inadvertently on mic during an ABC News/Yahoo! News webcast.
Chalian said, "They're not concerned at all. They're happy to have a party with black people drowning."
The comment refers to the fact the Republicans are holding their convention in Tampa while Hurricane Isaac barrels down on New Orleans and the Gulf Coast.
Conservative watchdog website NewsBusters posted video of the incident.
Yahoo! responded by releasing a statement distancing itself from the comments:
"David Chalian's statement was inappropriate and does not represent the views of Yahoo!. He has been terminated effective immediately. We have already reached out to the Romney campaign, and we apologize to Mitt Romney, his staff, their supporters and anyone who was offended."