Hi rzohar,
I don't think you can find any single schip that will do this for you.
First of all, you need to specify what media you are talking about.
Second, you need to have a device with a display interface, and specifcly a TV output unit.
Third, you need to have a board with all the proper connectors, memory, i/o etc. on it.
There are some ICs on the market with a VGA output on them, Chips and Technology used to have a single chip PC with a CGA/VGA ouput driver on it.
The best way to do it, is to use an ATMEL micro controller, toegher with a large enough CPLD or FPGA, and a high speed D/A converter or a VGA chip. Plus enough memory for the unit, one for the processor to use during the de-compression and one for the memory of the display unit to show the memory on your TV screen while the next unit is being "translated into RGB or any other type you use.
If you find a chip that does this, please let us all know, I am really curious about it.
BR,
/Farhad