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TV5, multilateral, multicultural and multithematic television channel of the French speaking world, has been launched in media scene in 1984 in order to function as a social tie to the french speaking community that’s marked by a huge cultural diversity and different economic, social and political realities. The main aim of this mediation project is to present heterogeneous structure of this community and to be the mirror reflecting its plurality. The communication model that TV5 has established is intercultural, however in spite of the use of a commun language and solidarist character of its programming, a genuine cultural exchange between the North and the South has not been institutionnalised yet. The North, and especially France, on account of the colonialist tradition, perceives the South according to a certain image (African or Moorish stereotypes for exemple) and this image commands the construction process of the messages concerning the South. The North speaks of, and to, an « imaginary South ». The South, as for itself, works for ensuring a right perception of itself and its principal stake is to have access to the worldwide communication and media networks. It presents its particularities in the commun cultural and historical heritage of the French speaking world, rather than attributing an identity to the North and communicating with this identity. The North considers the identitary expression of the South important, in return, directing and financing the channel, it dominates the communicational context of the channel and controls the message creation and broadcasting processes. Therefore, TV5 follows a narrow path between the policy of cultural exchange and enhanced dialogue and the neo-colonialist policy of cultural invasion and diffusion of a certain perception of the world, this perception being derived from a limited communicational context.