On October 1, 2016, Media5 president and former Gilas Pilipinas and PBA head coach Chot Reyes became the network's officer-in-charge, replacing the network's president for four years, Noel Lorenzana, who retired from his position on September 30. In the same year, the network halted production on entertainment programs after it shifted its strategy toward broadcasting American television shows and films dubbed in Filipino, and made a deal with filmmaker Brillante Mendoza to produce television films and series for the network. Sebastian Duterte, son of Philippine President Rodrigo Duterte, was recruited in January 2017 to star in the unscripted travel show Lakbai for his appeal to the millennial market. By February 2017, more than 100 employees were laid off on short notice, most of whom were members of the ABC Employees Union.
On February 17, 2018, TV5 launched its new slogan, "Get It on 5!". Along the launch, the network also started its five-brand strategy, consisting of News5 (News), ESPN5 (Sports), On5 (Entertainment and other content), D5 Studio (Digital), and the newly revived Studio5 (Films and Originals). By March, the network made a deal with Netflix to stream its new action series Amo, directed by Mendoza, becoming the first Philippine-produced series on the platform.
However, after retrenchment and privatization, TV5 retrenched 700 employees and stopped the production of TV5 sports and news programs (including ESPN5 and News5), its last TV5-produced program (including News and sports channel), on October 29, 2018, as TV5 started outsourcing news, sports and entertainment programs from Cignal TV and News5's entertainment and news department when TV5 took over the entire channel's airtime.
On October 30, 2018, TV5 announced the axing of ESPN5 and News5, as TV5 Network took over the entire network's airtime. More than 700 employees were retrenched, effectively dissolves TV5's sports department.
In October 2018, TV5 was acquired by MediaQuest Holdings and discontinued the use of the TV5 Novaliches facilities.
On April 22, 2019, TV5 Network was granted a 25-year legislative franchise extension under Republic Act No. 11320, which lapsed into law after 30 days of inaction by President Duterte. The law grants TV5 Network a franchise to construct, install, operate, and maintain, for commercial purposes, radio broadcasting stations and television stations, including digital television systems, with the corresponding facilities such as relay stations, throughout the Philippines.
After the retirement of Chot Reyes as TV5's president and CEO, he was replaced by Media5 President (TV5's sales and marketing arm) Jane Basas.
On February 4, 2020, Robert P. Galang was appointed as the new president and CEO of TV5 Network and Cignal TV, replacing Basas, who was appointed as the new Chief Marketing Officer of Smart Communications.
On August 15, 2020, TV5 Network announced a partnership with its sister company, Cignal TV, to become TV5's main content provider. This focus on the network's programming efforts signaled the willingness of TV5 to compete again with the GMA Network, TV5's longtime rival among other TV networks in the Philippines after the expiration of the congressional franchise of ABS-CBN in May 2020. In 2021, TV5 and rival network ABS-CBN signed a deal that lets ABS-CBN programs to be broadcast in TV5 along with its own shows and also released a new cable channel named BuKo that airs comedy shows which is only available in Cignal.
TV5 also released a new digital TV set-top box called Sulit TV, which transmits TV5's digital frequencies as well as other available digital channels, competing with ABS-CBN TV Plus and GMA Affordabox.
In September of the same year, the University Athletic Association of the Philippines (UAAP) inked a deal with Cignal to launch the UAAP Varsity Channel to air UAAP basketball and volleyball events simulcast on TV5 and One Sports.
Since January 24, 2021, TV5 aired selected programming produced by ABS-CBN Studios following the shutdown of its free-to-air network. Programs included ASAP XP (2021–present, now hookup with All TV since 2026), Primetime Bida and Yes Weekend! (select programs only, 2021–present, now hookup with All TV since 2024), FPJ: Da King (2021–2023, now returned on GMA Network as FPJ sa GMA since 2025), It's Showtime (2022–2023, now moved on both All TV and GMA Network since 2024), Nag-aapoy Na Damdamin and Pira-Pirasong Paraiso (2023–2024 as part of Kapamilya Gold and reruns in 2026), Magandang Buhay (2023–2024, later moved on All TV from 2024 to 2026), Rated Korina (2023–present, originally by Brightlight Productions when the show transferred to TV5 from October 24, 2020 to June 16, 2023, now hookup with All TV since 2025), Sunday Blockbusters (2024), and Blockbusters sa Umaga (2026–present, hookup with A2Z and All TV). TV5 suspended the airing of newly released ABS-CBN content from January 2 to June 21, 2026, due to a financial dispute that was later settled.
In June 2022, ABS-CBN engaged in advanced talks with TV5's parent company, MediaQuest Holdings, to allow its resources to combine after Villar Group-backed Advanced Media Broadcasting System acquired ABS-CBN's former frequency. Operations were slated to begin in October 2022 as ALLTV-2, becoming the flagship station of ALLTV. On August 10, 2022, ABS-CBN and MediaQuest Holdings signed a "convertible note agreement" for the ABS-CBN's investment into TV5 Network. ABS-CBN acquired 34.99% of TV5's common shares, with an option to increase its stake to 49.92% within the following eight years, with MediaQuest remaining TV5's controlling shareholder with 64.79% of its common shares. Meanwhile, MediaQuest Holdings executed a "debt instruments agreement," in which they would acquire a 38.88% minority stake of ABS-CBN's cable TV arm Sky Cable Corporation through Cignal TV, with an option to acquire an additional 61.12% of Sky Cable shares within the following eight years. After ABS-CBN and TV5 had a partnership deal, the House of Representatives set a briefing, and SAGIP Representative Rodante Marcoleta commented that TV5 violated the broadcasting franchise with the ABS-CBN deal. The scheduled briefing was canceled at the last minute. On August 24, the two broadcasting companies agreed to pause their closing preparations for the deal, following concerns from politicians and some government agencies. On September 1, 2022, both parties announced the termination of the proposed investment.
On February 1, 2023, Guido R. Zaballero was appointed president and chief executive officer of TV5 Network. Zaballero, formerly the product manager of Smart Communications' Talk 'N Text cellular service and the vice president and head of marketing for Cignal TV, assumed the position following the retirement of Robert P. Galang, who headed Cignal TV and TV5 since 2020. Basas assumed the post of president and CEO of Cignal TV, concurrently with her role as the president and CEO of MediaQuest.
On April 1, 2023, the high-definition feed of TV5 was launched on Cignal Channel 15 (HD), as announced on March 21, 2023.
On April 16, 2023, the main channel switched its airing on the channel feed and its programming to a widescreen format (16:9), as opposed to a full-screen format (4:3).
In June 2023, the comedy trio of Tito Sotto, Vic Sotto, and Joey de Leon (TVJ) signed a "long-term" agreement with MediaQuest to produce content for TV5 and other MediaQuest properties. On July 1, 2023, TVJ's noontime variety show, E.A.T., premiered on TV5 and eventually returned to its original name, Eat Bulaga!
In October 2023, TV5 President Guido Zaballero announced that the broadcast of the PBA games would be transferred to A2Z, with TV5's programming focusing more on entertainment and news programs. That same year, TV5 entered into an acquired agreement with Nine Media Corporation (NMC) to broadcast Eat Bulaga! on Saturdays and select PBA games on Saturdays and Sundays, both on CNN Philippines, starting January 6, 2024 to expand channel's weekend programming lineup.
On February 1, 2024, following the closure of CNN Philippines, TV5 launched a new free-to-air channel RPTV in partnership with Nine Media and Radio Philippines Network (RPN). Meanwhile, Nine Media retains as a majority control of RPN after 10 years of being a network's content provider, with TV5 took over the entire RPN's airtime.
On November 4, 2024, TV5 entered an airtime lease with Bright Star Broadcasting Network Corporation for the transfer of its radio division, True FM (formerly Radyo5) to 105.9 FM. Before this, Radyo5 was on NBC's 92.3 FM from November 8, 2010, to November 3, 2024, until Philippine Collective Media Corporation took over the operations of this frequency and rebranded as Favorite Music Radio.
