scosch, are in you in the US?
OK, then use a coat hangar. Seriously.
A VHF antenna is cut for about 160MHz, a TV antenna needs to be cut for about 700MHz these days. VHF TV signals were supposed to go off the air this month, they've been extended to June, they are still going silent "now".
Digital TV will be replacing them, and that's a TV-UHF signal which is best received on an UHF antenna. One of the loopy ones if you have an old TV with both a circle and a whip (or V).
Yes, height aloft counts, so if you want, stick the antenna on a cable and a halyard and raise it just for the TV. You'll find that over-the-air TV in the US is going to become much worse in many places, because with digital TV the signals are more sensitive to a directional antenna and instead of getting a 'weak' or snowy picture--you either get a perfect one, or nothing. Many parts of the country will get nothing, as the digital signals are weaker than the old analog ones they replace in many cases.
Splitter & all? Nice theory, really, but "more stuff to break" and my VHF is one thing I really, really, want to be KISS and separated from every other gizmo on the boat.