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I'm guessing that for an older person who lives alone and doesn't get out much, having the TV (or a talk radio program) on with voices talking in the background may provide a feeling of companionship in a way that music wouldn't. Like if you live with family and can hear them talking even if you are in another room and are not participating in the conversation. (Heck, I'm neither elderly nor homebound and I have done this on occasion.) They may consider it money well spent, not wasted. Probably all of us spend money on things that matter to us but might seem wasteful to other people.
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