FFMPEG
Downcode to x264 1080p (copy audio and subtitles)
ffmpeg -i input.wmv \
-c:v libx264 -preset veryslow -tune film -crf 22 -vf scale=-2:1080 \
-c:a copy -c:s copy \
output.mp4
Transcode audio: -c:a libfdk_aac -b:a 128k
-tune parameter: https://superuser.com/a/564404/229283