You can't have two live working hubs. The hub 4 should have been deactivated when you you installed and activated the hub 5.
Have you looked at Check service status at the top of the page to see if there any known broadband problems? You can also a run a test on your equipment from there.
If nothing is showing you could also try the Service Status number 0800 561 0061. This often gives details of more local issues down to postcode level.
The live TV channels aren't carried over the internet so wouldn't be affected, however On Demand, Catch Up services and streaming apps shouldn't work if you have no internet signal.
Are the On Demand/Catch Up and apps via your 360 boxes working?
Have you tried rebooting or factory resetting your hub 5 as the blue light usually indicated that the WPS button has been pressed and it's trying to pair a device.
If you can log into the hub interface 192.168.0.1 then Admin > Reload & Reboot > Restore Default (to factory reset) or just Reboot.
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