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Although, the hours the average person watches TV in a week haven't changed that significantly in a generation. Moreover, it was this very generation that went from most people only having terrestrials to a wide array of terrestrials and specialty channels.
 
Go OTA

Go over the air, ditch cable.

I've been using over the air HD TV for almost a year now and haven't regretted it. Cable was such a waste of money.

My condo is near the bottom of a 30 story highrise smack downtown. I still get 7 channels. I'm sure if I had some height I'd be pulling stations from across the lake and Hamilton too.

I will warn you though, the HD TV antennas sold in stores are rip offs.
I recommend following this video, take you 15 minutes, some wire coat hangers and a UHF splitter:
http://www.youtube.com/watch?v=EWQhlmJTMzw
 

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