If you are dead set on using the existing domain, you will need to plan out the transition and make changes slowly over time if you want to minimize the damage to your search engine rankings. If you are not already, you should be using the various Webmaster Tools offered by the search engines for better granularity during your transition. Personally, I would leave the videos on your server so that existing backlinks won't 404 and just remove any local mention or link to them (so no new links are created). Use redirects as a last resort, and make sure to use 301 rather than 302.
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