1. Use the "Subtitle Tool & Converter" to convert a SBV subtitle file into a Final Cut 7 XML marker file
Open the free Subtitle Tool & Converter, select "SBV" and set "convert" to "Adobe Premiere Pro > Sequence (.xml)". Generate and download the file. If you have problems converting the file, you can contact the free support.
2. Import the Final Cut 7 XML marker file into Adobe Premiere Pro
To import timeline markers, go to "File -> Import" and select the XML file.
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