Yeah, I'm back with another nice question

I have movie that is not in a 16:9 ratio, but in something like 16:7.
-Just resizing it to a 16:9 results in ovals instead of cirkels. And things like it.
-Cutting some parts of the movie makes me lose a lot of the screen. (sometimes 20% of the screen)

What can be a good possibility to get it.
Keep in mind...the movie self not necessary in 16:9, but I just want the picture to stay in the correct aspect ratio, while playing at a 16:9 television.

(perhaps adding extra collored borders above and below the vid)
(collored, because, black borders will be cut by the televison)

Or does somebody have an other option?