If you have a closet close by you can place all of the electrical there or buy a console to place in. Not sure what your style is but I attached an idea.

Three ideas. (a) wireless; all the other components can go elsewhere in the living room, and you can use infrared-reflectors to re-direct all the IR beams; (b) wire-ly, but hide all the wires in a conduit either buried under your floor or inside your walls, connecting to your components elsewhere in the living room; (c) let all the cables hang out like an overgrown forest. :) Many people like to mount their TV above the fireplace -- (unless there is no choice due to space limitations,) very strange idea, to have to crank your neck up to watch TV. My ideal TV height is slightly BELOW my eye level when I'm seated. Please update with photos of your progress. Good luck! :)