MANILA, Philippines?The new owners of TV5, led by businessman Manuel V. Pangilinan, want to pour in another P5 billion into the network to ensure that it overtakes ABS-CBN and GMA 7 for the top spot in the local broadcasting industry.

This additional investment will go on top of the P5 billion that MediaQuest Holdings Inc. plans to spend just this year to reach the goal of being the country?s largest TV network.

MediaQuest, a subsidiary of Philippine Long Distance Telephone Co.?s (PLDT) Beneficial Trust Fund, acquired ABC Development Corp. (TV5?s corporate name) for an undisclosed amount last year.

It likewise bought MPB Primedia, the Philippine unit of TV5?s Malaysian block timer Media Prima Berhad, last year.

?Right now, we are a strong No. 3, but our goal, of course, is to be No. 1 in both news and entertainment,? MediaQuest president and CEO Rey C. Espinosa said at the grand launch of the TV5 brand Thursday night at the World Trade Center in Pasay City.

Quite inauspiciously, a 6.1-earthquake hit Metro Manila on the same day.

Is this a jittery start for the station formerly known as ?Ka-Shake? (as in dancing)?

Later guests were treated to an audio-visual presentation (AVP) that encountered a slight glitch.

?Kapatid?

In the middle of a spiel (on TV5?s plan to build a High-Definition studio), the AVP conked out momentarily.

In any case, TV5 has a new tag, Kapatid, because, its drumbeaters say, the revitalized network offers a haven (and lots of jobs) to erstwhile Kapuso (GMA 7) and Kapamilya (ABS-CBN) talents.

Among the Kapusos sighted at the launch were Rainier Castillo, Epy Quizon, Ariel & Maverick, Pauleen Luna, Daiana Meneses, among others.

Paolo Bediones, another Kapuso talent who was one of the earliest to be pirated by TV5, hosted the launch with Kapamilya-Kapuso crossover artist Ryan Agoncillo.

(Aside from hosting TV5?s flagship show ?Talentadong Pinoy,? Agoncillo had projects with ABS-CBN and is now seen on GMA 7?s ?Eat Bulaga.?)

Agoncillo?s ?Eat Bulaga? cohosts, Vic Sotto and Joey de Leon, also have new shows on TV5.

The Kapamilya camp is represented by John Estrada, Jon Avila, Nova Villa and recent defectors Dolphy, Maricel Soriano and Ruffa Gutierrez.

Quizon, who costars with dad Dolphy in TV5?s ?Pidol?s Wonderland,? insisted that he has never been ?identified exclusively? with one station.

Since his most recent assignment was GMA 7?s ?Full House,? he still hopes to work with the Kapuso station.

Still, Quizon said he?s happy that their TV5 show is a virtual family reunion. Apart from dad Dolphy, brother Vandolph costars and another brother, Eric Quizon, directs.

It?s also a homecoming for comedians Ariel and Maverick.

Although they had a brief stint on GMA 7, the duo is reviving their old ABC 5 program ?Totoo TV.?

?We?re prepared to put in the capital and hire the right people. To a large extent, it?s about investment,? Espinosa said.

1st wave of shows

Pangilinan said that the present lineup of shows is just the first wave in their bid to gain industry supremacy.

But the list of new TV5 programs consist mostly of tried-and-tested fare?or regurgitated formats (notably, the Sunday variety show ?PO5? and Amy Perez?s ?Jerry Springer? knock-off ?Face to Face?).

The only bright note in an otherwise grim and garish lineup is the planned return of the children?s show ?Batibot.?

Focus on TV signal

Espinosa earlier announced that the company would spend a total of P5 billion this year. Part of this will be for the acquisition of state-of-the-art network equipment and new facilities.

Espinosa added that the company is also focusing on improving the quality of its TV signal across the nation, which is seen as key in improving its ratings.

Today, he said the quality of TV5?s signal is already better than its bigger rivals ABS-CBN and GMA in the Mega Manila area, where more than half of TV viewers in the country live.

The additional P5 billion will go mainly to improve on the broadcaster?s network.

Espinosa said TV5 also plans to take advantage of PLDT?s extensive network of phone lines for its nationwide signal rollout. By the middle of next year, Espinosa said TV5?s signal will have covered more than 90 percent of the country.

About P2 billion will be used for the development of programs, which involves the aggressive hiring of new talents.

Aside from its stake in TV5, MediaQuest also holds a majority interest in radio operator National Broadcasting Corp.

MediaQuest is also a minority shareholder in the newspaper BusinessWorld Publishing Corp.

MediaQuest is also currently in talks to acquire a controlling stake in the newspaper Philippine Star.