Suggestions for a very deep alcove

I am doing some remodeling and can't decide what to do with this area. I want a low cost option. Preferably diy. Please help
A few facts
-My TV must go here
- My furniture will be arranged around this as the focus
- My style is " transitional/modernish with touches of farmhouse rustic"
The alcove is 32 inch deep 10 ft high
The living space ( ignore trash please. It's demo day and removing the carpet
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