18. A receiving device comprising: a communication interface that receives a first audio/video stream including at least one segment of a show and at least one interstitial of the show, and that further receives supplemental data, the supplemental data including closed captioning data associated with the first audio/video stream; a storage unit that stores the first audio/video stream and the supplemental data; control logic that: sorts the closed captioning data according to a presentation order; receives location information separately from the first audio/video stream, the location information including a plurality of data segments, each comprising a displayable text string contained in the closed captioning data as originally transmitted by a content provider, a first of the plurality of the data segments associated with a first video location within the first audio/video stream, a second of the plurality of the data segments associated with a second video location within the first audio/video stream, beginning and ending offsets, associated with the second of the plurality of data segments, that are relative to the second video location, the beginning and ending offsets identifying beginning and ending locations of the at least one segment; processes the sorted closed captioning data recorded to identify the first video location within the first audio/video stream based on the first of the plurality of data segments; determines that the first of the plurality of the data segments is not located within the closed captioning data recorded; processes the closed captioning data recorded again to locate a second video location corresponding with the presentation of a second of the plurality of data segments in the closed captioning data recorded; identifies the beginning location and the ending location of the at least one segment within the first audio/video stream based on the second video location, the beginning offset and the ending offset; identifies substitute content based on the second video location, the beginning offset and the ending offset; and replaces the at least one interstitial of the first audio/video stream with the substitute content to generate a second audio/video stream; and an audio/video interface that outputs the second audio/video stream for presentation on a display device.
18. A receiving device comprising: a communication interface that receives a first audio/video stream including at least one segment of a show and at least one interstitial of the show, and that further receives supplemental data, the supplemental data including closed captioning data associated with the first audio/video stream; a storage unit that stores the first audio/video stream and the supplemental data; control logic that: sorts the closed captioning data according to a presentation order; receives location information separately from the first audio/video stream, the location information including a plurality of data segments, each comprising a displayable text string contained in the closed captioning data as originally transmitted by a content provider, a first of the plurality of the data segments associated with a first video location within the first audio/video stream, a second of the plurality of the data segments associated with a second video location within the first audio/video stream, beginning and ending offsets, associated with the second of the plurality of data segments, that are relative to the second video location, the beginning and ending offsets identifying beginning and ending locations of the at least one segment; processes the sorted closed captioning data recorded to identify the first video location within the first audio/video stream based on the first of the plurality of data segments; determines that the first of the plurality of the data segments is not located within the closed captioning data recorded; processes the closed captioning data recorded again to locate a second video location corresponding with the presentation of a second of the plurality of data segments in the closed captioning data recorded; identifies the beginning location and the ending location of the at least one segment within the first audio/video stream based on the second video location, the beginning offset and the ending offset; identifies substitute content based on the second video location, the beginning offset and the ending offset; and replaces the at least one interstitial of the first audio/video stream with the substitute content to generate a second audio/video stream; and an audio/video interface that outputs the second audio/video stream for presentation on a display device. 20. The receiving device of claim 18 , wherein the control logic identifies the substitute content based on viewing characteristics of the user.