Got rid of both the TV and cable 12 years ago when the first kid was born. Gave the kids a PC and lots of (video) DVDs that we approved of. Now they're older, they watch (mostly crappy) series on YouTube and get (a little better) TV series in DVD boxed sets (Firefly, Buffy, Red Dwarf, that kind of stuff).
A few years ago we set up an projection system, fed by BluRay, Wii, XBox or, in very rare cases, WinTV on a Boot-camped MacBook. But still (nearly) no commercials.
In the meantime, I can watch important events (elections, catastrophies, playoffs) when I want to, either on a web feed from some news organization, or in HD using the over-the-air digital TV on my Samsung desktop combination monitor/TV.
Still don't pay a penny to anyone except for DVDs, BluRays, and projector bulbs.