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Import dv into iMovie 6 - Letterboxing

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Greetings

I'm importing an hour long movie from my Mini DV camera (Canon MV960). Having imported the various clips and with a view to dragging them to the timeline for editing, as soon as I click on a clip, up pops a window which rather tersely states that it is Letterboxing - please wait. This may take a little while. It certainly does...ages, in fact. Moreover, it seems to gobble up a great deal of my HD space.

Can anyone let me know what's going on? And why?

Previously I have used a Sony mini DV camera without this happening.

Have I missed a setting somewhere?

Cheers Mitcherooney
 

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