I have a .mov file create via quicktime screen capturing video software on the mac. I believe it was captured at the highest resoluton possible. Right now the the movie is 5 minutes and it's 200mb.
With a data rate of approcimately 5.33 Mbps for an H.264/AAC screen capture, this is already considered a reasonably small file. (E.g., a DV file of the same duration would likely be more than 1 GB in size).
How do I reduce the size of the video file to a more managable size to then import into iMovie as I would like to to combine it with another movie on iMovie in the near future.
The file is already quite manageable in terms of file size for use in iMovie as long as you have free disc space avasilable. As to reducing storage requirements in general, the easiest way to reduce file size is to reduce the data rate used to store the data. Unfortunately, this means further compression of the data which is another ware of saying throwing away more data and reducing the file quality. To make up for this lost quality, you could reduce the resolution of your video from HD (e.g., 1920x1080) down to SD (e.g., 640x360) to restore/retain the original video quality in terms of data per pixel encoding requirements. In short, to really answer your question you will have to provide more information as to your goals here and what you are will to give up to achieve the reduction in file size you seek.