I have a live multi-program MPEG-TS stream [MPTS] over IP, I'd like to select just one program from the stream, and output a single-program MPEG-TS stream containing just that program. is there any software, either open-source or for sale that can do that?
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Adobe Media Server appears to support the functionality you are looking for. There is a free starter edition or the Extended or Professional editions also support live stream splitting.
tsMuxer should be capable of doing just that. It can handle pretty much any form of transport stream.