NB: I really don't do Python, so this is pseudo code.
You need the relative proportions of the two fields, as this determines which of the new axes should be the same size as the new box:
r_old = old_w / old_h
r_new = new_w / new_h
if (r_old > r_new) then
w = new_w // width of mapped rect
h = w / r_old // height of mapped rect
x = 0 // x-coord of mapped rect
y = (new_h - h) / 2 // y-coord of centered mapped rect
else
h = new_h
w = h * r_old
y = 0
x = (new_w - w) / 2
endif
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