Is it possible to isolate the closed captioning on a disc and view it as a text file?

Thanks!

I think this should help:

Extracting Closed Captioning from a DVD

It's a little involved, but nothing too strenuous...

Does it need to be Closed Captioning, or will the subtitles do?

Cuz, there's this.

Closed caption information is embedded as a series of Morse-like dashes in the picture (at the very top of the screen, before the actual lines of picture information start), so there's no file on a DVD and extracted, as such (it needs a CC decoder to interpret the signal, and change it back in to words, which the decoder (perhaps one built into the TV set itself) then generates as captions on your TV).