Looks like dumping its bid for Media General was a good deal for Meredith CEO Steve Lacy.
Media General shareholders were up in arms last year after the potential merger was first unveiled, because they did not want their TV company saddled with what was viewed as a slow-growth magazine-heavy Meredith.
The objections forced Media General to break off the Meredith talks and instead merge with Nexstar.
Thursday, after reporting quarterly results stronger than expected, Meredith rose 3.6 percent, to $50.16, not far off its 52-week high.
In the three months since the merger collapsed, Meredith’s stock price is up 9 percent. The March 31 quarter highlights included its TV unit as well as magazines.