With the new flat screen on the wall and your old cable outlet on the ground, you need an answer of how to fix it. Take the time and do it right or consider hiring a professional, but either way, relocate that outlet.
Before you begin running your cable, decide where you are going to hang the TV. Find where your current cable is situated and determine where on your wall you will need to run your cable to. Find out what type of barriers are behind the wall that might impede you in running your cable from your existing box to the new one.
Step2
Cut the opening and install the new wall box for your cable outlet. Run your cable from the existing box to your new one by either grabbing it from the basement or attic and moving it to the new box, or use a coat hanger or fish tape to guide it from the new box to the old box if it is a short distance on the same wall.
Step3
Connect your old line to the new line and close the old wall box by patching it. Cut a piece of sheet rock the same size as the old cut out. Place mesh tape along the seams. Cover the seams with compound and let them dry. Sand down and reapply, if necessary. Paint to match the rest of the wall when the patch is done.
Step4
Hang the wall mount backing according to the manufacturers instructions. Attach the cable to the TV and secure the screen to the mount.
Tips & Warnings
If you are not comfortable or don't know what you are doing, call an electrician and have them run the new cable.
This information does not include running the electrical wire to the back of the flat screen.