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Lifestyle Cable Giants Discovery and Scripps Discuss Merger; Shares Soar After-Hours

Lifestyle cable giants Discovery Communications Inc. (DISCA) and Scripps Networks Interactive Inc. (SNI) are in talks to combine, the Wall Street Journal is reporting according to sources familiar with the matter, reviving talks of a merger between the two that fizzled in 2013.

Shares of both companies rose in after-hours trading on the news, which broke shortly after 6:30 p.m. ET. Discovery jumped more than 9% to $28.50 and Scripps shot up 13% to $76. The Journal didn't report any specifics, but noted that it's possible the deal could fall apart or that another bidder for Scripps could emerge.

A merger between...