Matthew,
Most people just simply reduce the vertical height to fit the 16:9 screen area. Then to watch 4:3 material in the center of the 16:9 usually requires a video processor to perform this function. If you want an inexpensive line doubler that can perform this function, you may want to look into the DVDO iScan Plus V2 which is able to horizontally compress a 4:3 image into a 16:9 frame.
DVDO iScan Plus V2
Most people just simply reduce the vertical height to fit the 16:9 screen area. Then to watch 4:3 material in the center of the 16:9 usually requires a video processor to perform this function. If you want an inexpensive line doubler that can perform this function, you may want to look into the DVDO iScan Plus V2 which is able to horizontally compress a 4:3 image into a 16:9 frame.
DVDO iScan Plus V2