If you are not so keen on having a huge black LCD TV clashing with your interior decorating. An Italian company called Craft Line has come up with the perfect solution. An upright piano called the Mediano that features a hidden mechanism to hide your LCD TV.
The piano cabinet mechanics allows you to lower or raise your LCD TV into view. The only problem is, to make the same for the LCD TV the pianos workings have to be removed. You could replace the keys with an electronic keyboard to at least be able to play a tune or two.
Personally I would rather have a working piano and a TV in the corner or wall mounted.