If is not a DRM video then use Handbrake. See Android Forums for thread which will explain the settings. Otherwise you will have to use a conversion program. I use Aimersoft for removing the DRM.
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No Recovery in ClockworkMod (Black Screen) FIXED!!!!!
After Rooting and Unlocking NAND (S-OFF) with unrEVOked3 which defaults with the unrEVOked Forever option. This saves an entire step and is a 1-Click root with the exception of Windows users who must first load the HBOOT Drivers. Next...