TV5, whose acquisition by media magnate Manny V. Pangilinan was among last year’s most talked about topic, is poised to give serious competition to the two leading networks in 2010.

“New shows will be launched in March and April,” a source has told Manila Bulletin Entertainment Online. “[Right now] internally nag-aayos pa sila. It’s going to be an exciting year.”

Luchi Cruz-Valdez, an esteemed investigative journalist before she took on executive positions in GMA-7 and then in ABS-CBN, has joined TV5 and is expected to beef up its news and public affairs department.

So far, a big hit for TV5 is its “The Evening News (TEN)” which has built an audience, mostly netizens, that appreciates the out-of-the-ordinary reportage of the day’s noteworthy political events and other goings-on.

Top stations ABS-CBN and GMA-7 are not taking in the developments sitting down. In fact, both are unveiling big shows this month.

ABS-CBN will have “Tanging Yaman” taking over the early primetime slot of “Katorse” starting on Jan. 11. Headlining the new soap is Erich Gonzalez, the breakout star of “Katorse,” along with love team partner, Enchong Dee.

On the 18th, Channel 2 will welcome back the hot Kim Chui-Gerald Anderson tandem via “Kung Tayo’y Magkakalayo,” which will also star Coco Martin, an indie movie actor who became a TV star in 2009’s top-rating soap, “Tayong Dalawa.”

By February, the Kapamilya network will field in either Angelica Panganiban’s “Rubi,” or the returning fantasy soap “Kokey,” which, this time, will be boosted by stars Angel Locsin and Vhong Navarro.

Judy Ann Santos’ much-awaited nurserye, “Habang May Buhay,” is rumored to finally be taking off in February but, if a source is to be believed, it might also be launched in March.

Over at the Kapuso network, 2010 opens with the Korean historical drama, “Queen Seon Deok,” and the original telefantasya, “The Last Prince,” featuring the popular love team of Aljur Abrenica and Kris Bernal, on Jan. 11.

And based on its TV plug, GMA-7 will also bring back past hitmakers “Captain Barbell” (with Richard Gutierrez again donning the superhero suit) and “Encantadia” (with a still unknown cast) as well as another remake of a Koreanovela (“Endless Love” with real-life sweethearts Dingdong Dantes and Marian Rivera) and the action-adventure “Panday Kids” headed by Jolina Magdangal.

New recruit Claudine Barretto’s first project on Channel 7 is highly anticipated, too.