More pictures for perspective!

I would create a built in for the tv so it can be hidden from view. You already have the little nook. Add some shelving and doors.

cyn222 When you say built in for the tv, what exactly do you mean? Something like an armoire?

If you own the space, add a built-in to enclose the nook and wrap around the fireplace. Put the tv in the nook section, art over the fp with a mantel tying it to the built-in, and move your sofa into the corner so the room will open up. Add a round glass coffee table, pillows, a colorful area rug and an arc lamp in the corner behind the sofa. Search this site for examples using "arc lamp." You may have room for an armchair in the area where the left end of the sectional is now and possibly for an end table and table lamp to the right of the large window.

Uchenna, You already have a nice niche for your TV, so have a carpenter come in and build some custom shelves to fit your inset area to house your TV screen, books and decorative accessories. It will give you a more finished look than a free standing piece of furniture. I would select paint after you purchase your furnishings.