MLT is an open source multimedia framework, designed and developed for 
television broadcasting.  It provides a toolkit for broadcasters, video 
editors, media players, transcoders, web streamers and many more types 
of applications.  The functionality of the system is provided via an 
assortment of ready to use tools, XML authoring components, and an 
extensible plug-in based API. 

This requires libdv, libquicktime and ffmpeg.

*NOTE* You must compile ffmpeg with all features enabled.  This will
require libdc1394, dirac, faac(creates a non-redistributable binary), 
faad2, gsm, openjpeg, lame, opencore-amr, rtmpdump, schroedinger, 
speex, libvpx, and x264.  These are all available on slackbuilds.org.