We propose a novel approach to reduce spatially varying motion blur using a hybrid camera system that simultaneously captures high-resolution video at a low-frame rate together with low-resolution video at a high-frame rate. Our work is inspired by Ben-Ezra and Nayar who introduced the hybrid camera idea for correcting global motion blur for a single still image. We broaden the scope of the problem to address spatially varying blur as well as video imagery. We also reformulate the correction process to use more information available in the hybrid camera system, as well as iteratively refine spatially varying motion extracted from the low-resolution high-speed camera. We demonstrate that our approach achieves superior results over existing work and can be extended to deblurring of moving objects.