Tantalizers Plc has announced that it signed a memorandum of understanding on June 25, 2025, to partner with Degue Broadcasting Network, owners of DBN Television.

The company disclosed this in a notice filed with the Nigerian Exchange (NGX), signed by its secretary, Olamide Babawale-Mo.

According to the release, the partnership is aimed at reviving and restructuring DBN Television, which has been inactive for some time.

As stated in the disclosure, “The partnership will not only lead to the revival and resuscitation of DBN Television but also bring fresh and innovative ideas to TV entertainment and broadcasting in Nigeria.”

Speaking on the development, Adam Nuru, Chairman of Tantalizers, expressed his enthusiasm: “The takeover and revival of DBN Television will help us amplify our presence in the media space and tell the African story in a way that empowers Africans.”

Osa Sonny Adun, Chairman of DBN, shared similar sentiments: “The new TV channel to emerge from this partnership—backed by the right capital and content—will redefine television in Africa.”

This partnership marks another step in Tantalizers’ push into the media industry, following a similar move in May 2025 when it acquired Tade Ogidan’s Grand Media.

Since late 2024, Tantalizers Plc has been working to diversify its operations beyond the food industry by pursuing several acquisitions and strategic partnerships.

Arising after a N1 billion private equity investment in late 2024 by Messrs Food Specialties and Banklink Africa, now the majority shareholders, these activities may have contributed to positive market sentiment in the first half of 2025.

Tantalizers Plc recorded a H1 2025 gain of 16.59% on the Nigerian stock market.

The stock opened the year at N2.05 and dipped in February.

The second quarter saw a downward trend, with the share price slipping to N2.39 by the end of June.

As of the trading day ended July 2, 2025, shares of the company were priced at N2.42.