Tantalizers Plc, once known strictly for its fast-food chain, has taken another step in its transformation into a so-called “foodtainment” conglomerate.
The company announced Friday it has signed a Memorandum of Understanding (MoU) to partner with Degue Broadcasting Network (DBN) Television, marking its formal entry into Nigeria’s traditional broadcast media space.
The agreement, dated June 25, 2025, sets the stage for what the company describes as the “revival and resuscitation” of DBN Television, one of Nigeria’s oldest privately-owned TV networks that has been inactive for years.
DBN TV was incorporated in Nigeria in 1986 by Osa Sonny Adun. It started its broadcasting in 1995, a year before the Nigerian government deregulated the broadcast media.
Tantalizers said the partnership lays the groundwork for an eventual takeover and integration of DBN into its emerging media and entertainment division.
“We are excited about the future this agreement represents,” said Adam Nuru, chairman of Tantalizers Plc. “The takeover of DBN Television and its revival will enable us to amplify our voice in the media space and tell the African story to empower Africans.”
DBN Chairman Adun added that the revived station would “change television in Africa forever; offering terrific empowerment for all.”
Investors Welcome Move
Tantalizers said the move is part of its ongoing diversification strategy aimed at expanding beyond food and hospitality to become a significant player in Africa’s creative economy. The company envisions leveraging DBN’s infrastructure to build a multi-platform content hub, targeting audiences across Nigeria and beyond.
The deal builds on Tantalizers’ earlier media-focused acquisition, including its purchase of Grand Media Projects Limited, co-founded by veteran filmmaker Tade Ogidan. The company’s string of diversification efforts, including its recent foray into the blue economy through fishing partnerships, has fuelled impressive investor interest.
On the Nigerian Exchange Tuesday, Tantalizers’ stock rose 4.18%. Over the past year, the stock has delivered a staggering 378% return, making it one of the standout growth stories on the local bourse.
Tantalizers said the two companies would proceed with due diligence and seek regulatory approvals, with a definitive acquisition agreement expected in the coming months.
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