1. A method for synchronizing text with audio in a preexisting multimedia file, comprising the steps of: receiving the multimedia file and parsing the audio from the multimedia file while maintaining the timeline synchronization between the video portions and audio portions of the multimedia file; receiving closed-captioned data associated with the multimedia file, where the closed-captioned data contains closed-captioned text, each word of which is associated with a corresponding word spoken in the audio portion; generating text representations of parsed audio of the input multimedia file where each word of the text representation is associated approximately with the corresponding words spoken in the video portion; generating a probabilistic model predicting a next item in a sequence to compare each word of the closed-captioned text with a plurality of words of the text representation until a match is found; synchronizing each closed-captioned word with a respective point on the timeline in which each matched word is spoken in the audio and occurs within the video, where each matched word is associated with the accurate point on the timeline; providing the accurate, time-based text output to a database and associating said output with the original multimedia file.