Scripps, Discovery Shares Rally Following Report Of Merger Talks

Shares of Scripps Networks Interactive Inc. and Discovery Communications Inc. both jumped in the extended session Tuesday following a report of a possible merger. Scripps shares surged 10% to $74 while shares of Discovery rallied 9.4% to $28.50 after hours. The moves followed a Wall Street Journal report that Scripps and Discovery are in talks to combine companies, a tie-up that had been discussed back in 2014 but later abandoned, according to people familiar with matter.