dvbcut is a Qt application which enables you to select certain parts of an
MPEG transport stream (as received on Digital Video Broadcasting, DVB) and
save these parts into a single MPEG output file. It follows a "keyhole
surgery" approach. Thus, the input video and audio data is mostly kept
unchanged, only very few frames at the beginning and/or end of the selected
range are recoded in order to obtain a valid MPEG file.

WWW: http://dvbcut.sourceforge.net/