SFGate

jwheels9876 My idea so far was too paint the screen wall a flat black and add burgundy velvet drapery to the corners of that wall. Replace the current leather furniture with 8 Black theater recliners in two rows of 4 with the back row on a 10" riser.

Bargain Backer You could use some of our media equipment.
http://www.bargainbacker.com/Electronics

Overland Remodeling & Builders Depends on how much you want to invest.

Here is some ideas:

Built-in bookcase around tv/screen (picture), Surround ceiling speakers, recess lights, paint the wall behind the sofa with a venetian plaster accent color (picture).

L Star Murals I agree that darker walls would enhance the theater experience! You could opt for a custom mural to completely alter the space in any way you want. Here is a particular favorite mural in an entertainment room that I've come across!

Darzy If this room is used only for media I'd go all the way and paint the walls a deep charcoal gray, or even black walls. Get rope lighting and line the baseboards with the lighting for mood and the only lighting in the space during "show time". A BIG ottoman in the center of the space to kick your feet up and popcorn trays. :)

jwheels9876 I do have to keep it somewhat of a living room type area. The wife says no black paint on any wall but where the screen is located. What colors would look good with the black theater chairs and black screen wall with burgundy color drapes?

jwheels9876 The Carpet is a hunter green color and will be staying in the room