I guess I don't see the need for an emergency TV. Info on the TV is what's been disseminated and often dumbed down into uselessness. During a tornado warning warning the first thing I do is make sure the scanner is on and I monitor the local spotters and police - go to the source for the accurate info. It's amazing how often that info is at odds with what the TV (or commercial radio) is spewing out. I sure as hell wouldn't trust it for something man made like a chemical spill.
Though I suppose that really only works if they are in the area. If you're out in the middle of nowhere where there aren't police sitting around talking... but even then the automated NOAA is as good a source or better.