Is it solid or hollow? Has it been checked out to see if it supports the structure of the house/room?

Is that another window on the wall that faces the column?

Maybe you can put some sort of built-in shelves or cabinets on either side, and hang the TV right on the column. Perhaps the column has to stay, but why is the drywall curved like that? Maybe that can be changed to be flat. And built-ins could disguise it.

If it were square like the corner piece, you could suspend glass shelves between them. You didn't say if it is hollow. Perhaps a TV could be wall mounted to it... Where will the bed go?

What are the curtains that are showing up in your picture that aren't the window curtains?

It looks like you have a wood rustic chandelier in that room. Why not embrace the column and put a rustic tree decal on it. This is large but something along this style.

Based on the lines of the rest of the room. I would square it out, add floating shelves and on either side of column I would add 2 pcs of furniture or built ins. The soft round shape is what is throwing off the flow of the room besides the obvious.