It depends on your budget.
Under $100:
Become a regular at thrift stores, do the garage sales on weekends, and watch the online ads for bargains. It's possible to pick up a receiver that supports Dolby Digital and DTS digital surround for under $30. Speakers for under $10 each, but you need to know what to look for. Or, if you find something, google the model number and look for reviews and "net wisdom". Radio Shack has sold a few models that are decent quality (far better than most speakers found in under-$1000 home theater sets), and are very common (Minimus 7 and LX5). When buying used, check for rotten surrounds on the woofers (the rubbery ring that surrounds the cone); it's a feasible DIY job to replace them, but for the cost of the replacements you can probably find other worthy speakers.
In a pinch, a stereo receiver and a classic pair of "bookshelf" speakers, the kind that only fit on shelves sideways, will do nicely.
Under $1000:
Pick a new or late-model AVR that supports HDMI audio and any other stuff you deem necessary (3D, 4K, upscaling from standard definition sources).
Add a decent HTIB set of speakers and subwoofer, like Energy's "Take Classic".
Alternatively, scour used sources and put together a set of popular minimonitors like PSB Alpha, NHT Zero, Paradigm Atoms. Add a powered sub.
If you're moderately handy, consider building a subwoofer. It's just one (or two, or more) boxes, and they don't have to look perfect. Places like Zalytron, Madisound, Parts Express, Creative Sound Solutions sell woofers and plate amps and provide plans. If you don't mind a bigger project, build the speakers as well. In a pinch, some autosound subwoofers will work as home subs, and for an amp, a spare home stereo receiver may be enough. Or, it may be possible to power a car amp from a spare computer power supply.
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