[One of the Nine]

Now, I don't know about you, but I think seeing LotR characters watching TV on a Saturday morning would be just a little scary. Oh, well. Here's a few.

I think every hobbit would watch the Food channel, as previously said.
Gandalf would watch the Discovery channel I think. Him liking knowledge and all that.
Sauron would watch (and there is such a thing, I've seen it) the jewelry channel and drool at all of the gold rings.
The Rohirric people would watch the Pony Club, no doubt.
Gollum would watch the fishing channel.
Frodo would watch the Discovery channel with Gandalf.
Sam would watch the Gardening specials and he would laze around with Chef So-and-so.
Merry and Pippin I can imagine watching old cartoons like Tom and Jerry. Especially Pippin. Merry might watch a couple other shows, like maybe CSI/CSI Miami.