“Why does this TV have both component and composite video input? Are there specific reasons for both? Which would I connect an antenna to? I appreciate the input because this is very confusing to me.”
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As the Composite (Red/White/Yellow RCA) ports and Component (Red/Blue/Green) ports have become less-used connection options and are no longer a priority, and HDMI has now been adopted as the connectivity standard, TV manufacturers modified the input circuitry on TVs so that both the composite and component video source connection can be accommodated in one port as you have on the port labeled as the Shared Composite/Component port on the LG Full HD 1080p Smart LED TV - 49" Class (48.5" Diag), Model # 49LJ550M. You can use either a composite video source or a component video source but not both at the same time. Neither of these ports are for connecting an antenna to. In the back of the TV is a 75 ohm, coaxial connector labeled 'Antenna/Cable In' that you can connect to a cable box set top box or to an external or internal antenna...^IFV
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