There can be no doubt that both television shows and movies revolve around the printed word, even though the words are transmitted visually in the finished product.
The concept of media- mainly television and movies- being a form of literature to me seems a bit complex. In the case of movies a large number of them are based on books or stories from print. Now admittedly there is often a large amount of creative license between what was in the original book, and what is in the final product that makes it to the screen.
Movies, and in a smaller way television shows, bring the words to life and cause us to visually become a part of the story being told. Through the use of the basic literary elements, the script writers set up the storyline parallel to writers of print materials. There are settings, perspectives, and while the audio/ visual elements rely on actual sights and sounds, they still evoke the feelings which are being conveyed in the piece. The main difference is that television and movies bring all of the viewers senses into play, not just relying upon mental stimulation to conjure up the images.
Based upon these similarities, I would have to concur with those who argue that movies and television shows would fall under the realm of literature. Just as with traditional print materials, the worth of the piece relies on those who choose to indulge- which goes to personal tastes in either venue, print or media.