Here's a link to numerous technical articles that can present the challenges of what you suggest. Choose your poison but it's not as simple as one may think.
http://www.lwks.com/index.php?option=com_kunena&func=view&catid=27&id=9366&Itemid=81
VIDEO: https://en.wikipedia.org/wiki/Video
FILM FORMATS/Aspect Ratio's: http://en.wikipedia.org/wiki/Aspect_ratio_(image)
A summary review of this material demo's the challenge as far beyond any close to simple especially when standards are so diverse globally and the TV market is limited by those regional differences also. There were discussions about ten years ago by Sony that they were developing an SXRD that could adjust the pixels displayed to adjust to different formats but then they killed off SXRD tech shortly after.
Reading these and other spec's that impact such a capability may provide 21:9 wide screen but may adversely impact other formats and sometimes it's been done but often on a panel that can cost around a $100K+. I believe Samsung and others has demo'd them at CES.