Well, if you really wanted to, and all you're doing is reading, I'd use [man]file/man to read the entire file into an array.
$lines = file('file.txt', FILE_IGNORE_NEW_LINES);
Now $lines will be populated with the an array of data with each array element correlating to a line of the file. Then you can iterate over each line with a [man]foreach/man loop.
foreach($lines as $line) { }
Then for each line you can do what you need. So if the equals sign is your separator, then you could explode on the equals sign.
$lines = file('file.txt', FILE_IGNORE_NEW_LINES);
foreach($lines as $line)
{
list($filename, $title, $time) = explode('=', $line);
echo $title.' ('.$filename.') '.$time.'<br />';
}
Now, at this point, I would ask why not use an XML file? This sounds like a great spot to use it. You could use a format like:
<?xml version="1.0" encoding="utf-8"?>
<filelist>
<file>
<title>Some Title</title>
<filename>/path/to/file.flv</filename>
<time>4:10</time>
</file>
<!-- OR this version -->
<file title="Some Title" name="/path/to/file.flv" time="4:10" />
</filelist>
Then you could just use php's simpleXML extension (enabled by default).
$xml = simplexml_load_file('file.xml');
foreach($xml->file as $file)
{
echo $file->title.' ('.$file->filename.') '.$file->time.'<br />';
// OR if you're using attributes instead of elements
// $attribs = $file->attributes();
// echo $attribs['title'].' ('.$attribs['name'].') '.$attribs['time'].'<br />';
}
Hope that helps.