MPEG-2 Multi-program Transport stream (TS) achieves improvement of transmission efficiency by multiplexing several MPEG-2 streams. In this paper, we propose a transcoder which achieves rate reduction of MPEG-2 multi-program TS. For the purpose of realizing MPEG-2 multi-program TS transcoder, this transcoder requires a rate control method and re-multiplexing method: The former improves average SNR values in total of streams, and the latter achieves the evasion from failure of STD buffer. Next, from simulation experiments, we compare the conventional rate control methods to the proposed one. On the other hand, we show the state of STD buffer. Finally, we show the effectiveness for our proposed scheme.