What to do with a .ts file?

Hi guys, I have a HD video file with a .ts file extension, how can I burn it or play it, I have the latest Nero. I have VLC media player but the file seems to be jumping and skipping a lot, it also has some rare lines while playing.

By the way, I only have CD burner, can Nero shrink the 5.34GB file to fit in a CD?

 

you have to stop multiposting this question before the mods step in .I'd re edit them if i was you