Third party player, TV5, is ready to spend as much as P8-B in capital expenditures this year to invest on facilities for its news and entertainment programs. The P8-B Capex matches GMA Network's annual expenditure which are mainly poured on its core business. TV5 is ready to absorb billions of losses as a start up investment for 2011 relying on its mother company for financial back-up. It plans to build state of the art studios and up grade towers and other facilities for better signal reception. In 2010, the emerging media giant generated an estimated P1.5 billion in airtime revenues, far from rivals' P10-12B airtime revenues. TV5 owns an approximately 10% of the advertising market, but Mr. Espinosa expects figures to improve this year as newly launched programs proved to be competitive.