I think its just about two months since we canceled our cable TV and telephone land line at home. I'm happy to report that I don't miss TV very much, and after I got my new phone with Sprint the issues with not having a land line disappeared.
For TV, I watch Hulu or Netflix. Hulu has some of the shows I like to watch like V, or Modern Family, or Parenthood, even Lost is on there except I haven't watched that in a long time. My wife watches some of the reality TV stuff. On Netflix I can watch other shows from Showtime or HBO or Movies. When I watch tv on the internet as I call Hulu and Netflix, I feel like it is more purposeful; I sit down to watch the show or movie I want to see then I'm finished with it. When I would watch TV I would often loose an extra hour or two surfing for other stuff. I like it better this way.
For News I usually get the latest online, via feeds or other outlets. Often the news I get are 2 or 3 days ahead of the local news channels anyway. I just miss the convenience and the human element I guess. I also don't have a live feed for any sport but I don't really watch them anyway.