You really don't have a choice unless you're using the TV to stretch the picture horizontally.
Or zooming in, which is essentially the same thing that happens if it comes from the studio.
No, that's not correct. In most cases, if this heinous procedure
must be done, "smart cropping" is employed. At a very basic level, it starts with having the top of the frame just above the highest head as it were. Obviously, it gets more complex as you go on - with panning shots etc.
As bad as it is, this technique at least extracts a half tolerable frame - umm, sort of.
Zooming on your TV is most definitely not the same. That simply blows up the centre of the image - and I guarantee - for the most part, it looks bloody terrible. "Cut off" heads aplenty!