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Just

for f in *$OLD_EXT; do
....
echo "Old File: " $f
echo "New File: " $NEW_FILE
.....
done

If no files match $file will be "*.flv"

This will be better (also weeds out any directories or special files with a .flv suffix):

for f in *$OLD_EXT; do
[ -f "$file" ] || continue
.......

Change...$NEW_FILE=$(sed 's/$OLD_EXT/$NEW_EXT/g' $f)...to...NEW_FILE=$(echo $f | sed "s/$OLD_EXT/$NEW_EXT/g")

---------- Post updated at 09:56 AM ---------- Previous update was at 09:54 AM...