Since it was standardized many decades ago, standard tv has had a width/height ratio of 4/3 which is written as 4:3. This is called the "aspect ratio." Human vision has a natural in-focus area with an aspect ratio of about 4:5. There is peripheral vision outside of that, but it's not in focus. Imax movies are peojected with a 4:3 aspect ratio. Standard Hollywood movies are projected at about 16:9. For every 9 feet they are tall, they are 16 feet wide. They are almost twice as wide as tall.
Why the difference between Imax ans standard theater? 4:3 is a lot closer to the natural aspect ratio of the human eye. 16:9 allows the theater to be built wider allowing more people per row, more people per show.
What this means is that when a theater movie with its 16:9 ratio is shown on a tv with a 4:3 ratio, you have to letterbox it, add those black bars above and below or you have to "pan and scan" it which means only showing part of the whole scene.
A lot of people would like you to think that "wide screen", the 16:9 aspect ratio, is better. Those people work for the marketing department at Hollywood studios.
If you are looking for a large-screen TV, look closely at projection technology. You can get projectors today that deliver excellent images and are no bigger that a shoe box for under $2000. Add a roll-up screen for a few hundred and you're there. The beauty is that when you're not using it, the screen rolls up and the projector is smaller than a shoe box, so it doesn't dominate your living room.