I don't necessarily agree with this statement. I do not believe people are as selective with what they watch if they own a TV (yes, I know, there are always exceptions). When you actively seek out the content when/where/how you want it, as well as probably paying for it in some cases, you are much more selective with what you watch and how much time you spend watching it.
If people own a TV, they are using the hundreds of channels they have to suck up time rather than providing them true entertainment. People who own TVs, in my opinion, are much more likely to channel surf and just find a boring show to fill up their time because they find nothing else to do. This gets even worse with the increasing use of DVRs.
It turns into not filling an interest/entertainment need but rather providing a diversion.