This idea has been around a while, but maybe this time it will stick. In 1993 when "multimedia computers" (i.e. CD-ROM, audio cards and graphics that could almost play low-resolution video) were bleeding edge, Todd Rundgren released an interactive album titled "No World Order". Refer to: http://en.wikipedia.org/wiki/No_World_Order
I dropped cable TV in 1999. These days Netflix (discs and streaming) have completely replaced cable TV for my household, and mostly replaced broadcast TV. (I really like the 2 Roku set-top boxes I own.) News is mostly online. TechDirt, /. and Google are standard fare.
I have cable internet, but it's business-class so it's truly unlimited (static address, no ports blocked, no monthly caps, etc). For folks in my area with consumer-class internet from the local cable company, it's actually cheaper (about $5 a month) to get internet service with basic cable TV than without cable TV.