3,5-Pyridyne (3) has been generated by flash vacuum pyrolysis of 3,5-diiodopyridine (20) and 3,5-dinitropyridine (21) and characterized by IR spectroscopy in cryogenic argon matrices. The aryne can clearly be distinguished from other side products by its photolability at 254 rim, inducing a rapid ring-opening presumably to (Z)-1-aza-hex-3-ene-1,5-diyne. As byproducts of the pyrolysis, HCN and butadiyne were identified, together with traces of acetylene, cyanoacetylene, (E)-1-aza-hex-3-ene-1,5-diyne, and the 3-iodo-5-pyridyl radical (from 20). Several pathways for rearrangements and fragmentations of 3 and of the parent meta-benzyne (1) have been explored computationally by density functional theory and ab initio quantum chemical methods. The lowest energy decomposition pathway of biradicals 1 and 3 is a ring-opening process accompanied by hydrogen migration, leading to (Z)-hex-3-ene-1,5-diyne [(Z)-10] and (Z)-3-aza-hex-3-ene-1,5-diyne [(Z)-24], respectively. Both reactions require activation energies of 45-50 kcal mol(-1). Mechanisms leading from (2)-24 or directly from 3 to the experimentally observed byproducts are discussed. Upon replacement of the C(5)H moiety by N in meta-benzyne, high-level calculations predict a modest shortening of the interradical distance by 5-7 pm and a reduction of the singlet-triplet energy splitting by 3 kcal mol-1, in good agreement with isodesmic equations, according to which the singlet ground state of 3 is destabilized relative to 1 by 3-4 kcal mol(-1). In contrast to 3,5-borabenzyne (2), which is found to be doubly aromatic, nucleus-independent chemical shifts of 3 are almost identical to that of pyridine, indicating the absence of paramagnetic ring current effects that may be associated with "in-plane antiaromaticity". As compared with 1, the overall perturbation caused by the nitrogen atom in 3 is weak, and four electron, three center interaction is of minor importance in this molecule.