Here are the screenshots. the deform plugin also does the same

Notice in the first pic, you can see several feet to the left and right of the guy. So there should be a way to expand the sides of the video to see more

In recent versions of Vegas Pro, I'd start off with trying Vegas Pro's 'Black Bar Fill' FX which would replace the black sides with an enlarged replica of the existing sides of the image. This is a common approach used for images with an aspect ratio different to what is being used (e.g. 9:16 vertical phone footage on a TV news bulletin). But that FX is not available in MSP13. However, you might be able to create a similar result manually.

If the camera is fully locked off and without any movement, take a snapshot (to file) of the unsqueezed video and then import it and place it on a lower video track. Change the video on the upper track back to .75. The black areas should be transparent and allow the image on the lower track to show through.

If a video rather than a still is needed on the lower track, you'll first need to render the unsqueezed video to another video event and give the copy a new name and then follow the procedure as above.

Regardless of which approach - still or video - is used, there are some tweaks that may make the edges of squeezed image merge better with the added sides.

In the example above, the original image on the top track has had its pixel ratio changed to ,75 but with a snapshot taken before making that change. The snapshot still is on the lower track. In pan/crop of the upper track event, a mask has been placed inside the edges of the frame and feathering applied. In this example, the LH mask edge has been moved in quite a bit to help avoid a pedestal on the left.

The above approach is much easier to do with still images but with video it's a lot trickier to get a satisfactory result particularly if the camera moves at all - the L and R fills become much more obvious with camera movement.

Another possibility is to render the squeezed video with a 16:9 render template and then with the rendered video event on the timeline use pan/crop to zoom in so that the image fills the screen horizontally - but you will of course lose an equal amount of vertical image.

And yet another possibility but which is unlikely to be practical:

In BorisFX's Continuum Lens Unit is an FX called 'BCC+ Wide Angle Lens' which stretches out the sides of the image:

The Lens Unit costs probably more than $300 USD to purchase (or can be obtained by subscription) and whether or not the FX in Unit would function in an 11 years old video editor is another question - but it does have a trial version which from memory comes with watermarking.

Here is a quick and dirty way to do it.

One can make most of the patterns in the wall line up, but not all of them.

NewBlue also has a Progressive Stretch effect that will stretch the edges but leave the center.

Often I'll just take the same image, put it on the track below, and do a Gaussian Blur blurring the outside edges.

Often I'll just take the same image, put it on the track below, and do a Gaussian Blur blurring the outside edges.

@jetdv  ... but when I tried that with the pixel ratio changed to .75, copying the image to a lower track maintained the ,75 pixel ratio framing. It seems that changing the pixel ratio of the event applies to any instance of that video event on the timeline - like adding an FX at event level - which is why I recommended creating a new video event either by creating a snapshot or rendering to a new video event without pixel ratio squeezing applied.

Adding Gaussian Blur is a great idea - similar to adding the blur options in VP's native Black Bar Fill in recent Vegas Pro versions.

The snapshot still is on the lower track. In pan/crop of the upper track event, a mask has been placed inside the edges of the frame and feathering applied. In this example, the LH mask edge has been moved in quite a bit to help avoid a pedestal on the left.

I'll try this, but can you explain how to the feathering and LH mask. This part is all new to me

Here is a quick and dirty way to do it.

One can make most of the patterns in the wall line up, but not all of them.

Thanks John, can you explain what you did here. I can't tell from the PNG, even blowing it up

 can you explain how to the feathering and LH mask. 

In pan/crop, select/activate Mask and set the feather type using your choice of options for those settings:

@Dexcon, I'd leave the Pixel Aspect at the original value on the lower track so it still fills the full area.

What about just right-clicking and choosing "Match Output Aspect"?

@jetdv  .. I'd leave the Pixel Aspect at the original value on the lower track so it still fills the full area.

Please try doing that - when I did that earlier it changed the video event on the upper track also. Repeating, my find was that changing the pixel ratio in the event's Properties (as the OP has done) applies to all instances of that video event on the timeline. If you change the pixel ratio of the copied event on the lower track, that also changes the pixel ratio of the same event on the upper event. Are you getting a different result? If yes, I'd be most interested to know how.

@Dexcon so the Pixel Aspect is at the media level. Instead, I would have just used Pan/Crop to "squish" the image instead of changing the Pixel Aspect.

@Dexcon so the Pixel Aspect is at the media level. Instead, I would have just used Pan/Crop to "squish" the image instead of changing the Pixel Aspect.

 How do i use Pan/Crop to "squish" the image?

@Gerry-Peters Look at my image. Make sure "Maintain Aspect" is set to "No" and hold down the CTRL key when resizing the left and/or right side.

Absolutely a brilliant, easy solution. Using Pan/Crop, and holding down the control key when resizing the left and/or right side, made the person thinner. It did produce the black areas but it didn't matter, because I needed to zoom in anyway to make the person larger, which eliminated the need to fix the black areas.

I didn't have to adjust the pixel aspect ratio or create a pic of the video on a track below it.or create a mask or parent and child Compositing tracks. So easy - you're the best!