The last thing I want to look at in a formal living room is a television. To create a clean, calm and serene atmosphere, choose a "diversion" such as a beautiful flat screen cabinet like this one below. Or...if you have a larger budget, scroll down for something super-cool!
This TV below is a mirror when you turn it off! Watch the video.
I love these new mirrored TVs. I always recommend this if it's in the budget: http://www.hiddentelevision.com/discodecor.htm