I need to edit a large text file removing this pattern i'd like to avoid manual editing

So, I have a large text file with a bunch of info seperated by "|" . Within each line there are two categories i'd like to remove. The file is very long and i'd like to try to use a regular expression to replace with a space or delete if possible leaving the rest of the contents intact. Here is an example:

path to image | title of movie | genre | format | movie path

i'd like it to be

path to image | title of movie #Release Date:#Genre:#Plot Outline:#Runtime:#Format:  | movie path

so you would be replacing all of  " title| genre | format | " on each line with

title of movie #Release Date:#Genre:#Plot Outline:#Runtime:#Format:


I have attached the file that needs the fixing if someone could do it for me. Or give me instructions how that be great.
I:\Documents and Settings\steve\Desktop\movieGuiFrontEnd\covers\abyss.jpg | Abyss | Adventure | XVID|  "C:\videos\Abyss.SpecialEdition.DVDRip.Xvid.avi "
I:\Documents and Settings\steve\Desktop\movieGuiFrontEnd\covers\adventuresofbaron.jpg | Adventures of Baron Munchausen | Adventure | AVI |  "C:\videos\Adventures of Baron Munchausen, The.avi "
I:\Documents and Settings\steve\Desktop\movieGuiFrontEnd\covers\avp.jpg | Alien vs. Predator | Action | MPEG |  "C:\videos\predator\PredatorvsAlien.avi "
I:\Documents and Settings\steve\Desktop\movieGuiFrontEnd\covers\amadeus.jpg | Amadeus | Drama | XVID |  "C:\videos\Amadeus.DVDRip.XviD.AC3.5.1-GKARlos\Amadeus.DVDRip.XviD.AC3.5.1-GKARlos\Amadeus.DVDRip.XviD.AC3.5.1-GKARlos.avi "
I:\Documents and Settings\steve\Desktop\movieGuiFrontEnd\covers\bf.jpg | Back To The Future | Adventure | DIVX |  "C:\videos\back to the future\Back.To.The.Future.1.1985.DVDivX-SATELLiTE\sat-bttf-cd1.avi" "C:\videos\back to the future\Back.To.The.Future.1.1985.DVDivX-SATELLiTE\sat-bttf-cd2.avi"
I:\Documents and Settings\steve\Desktop\movieGuiFrontEnd\covers\bf2.jpg | Back To The Future 2 | Adventure | DIVX |  "C:\videos\back to the future\Back.To.The.Future.2.1989.iNT.DVDRiP.XViD-ReVOLT\revolt-bttf2a.avi" "C:\videos\back to the future\Back.To.The.Future.2.1989.iNT.DVDRiP.XViD-ReVOLT\revolt-bttf2b.avi"
I:\Documents and Settings\steve\Desktop\movieGuiFrontEnd\covers\bf3.jpg | Back To The Future 3 | Adventure | DIVX |  "C:\videos\back to the future\Back.To.The.Future.3.1990.iNT.DVDRiP.XViD-ReVOLT\revolt-bttf3a.avi" "C:\videos\back to the future\Back.To.The.Future.3.1990.iNT.DVDRiP.XViD-ReVOLT\revolt-bttf3b.avi"
I:\Documents and Settings\steve\Desktop\movieGuiFrontEnd\covers\batman.jpg | Batman | Action | DIVX |  "C:\videos\batman\Batman.1989.DVDRip.DivX-enDi.avi "
I:\Documents and Settings\steve\Desktop\movieGuiFrontEnd\covers\batmanbegins.jpg | Batman Begins | Action | XVID |  "C:\videos\Batman Begins (2005) [ENG] [DVDrip]\Batman Begins (2005) [ENG] [DVDrip] CD1.avi" "C:\videos\Batman Begins (2005) [ENG] [DVDrip]\Batman Begins (2005) [ENG] [DVDrip] CD2.avi"
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