In a cable modem system, increasing or decreasing the rate of an MPEG Transport Stream involves two separate, but related, tasks: 1) incorporating a sufficient number of additional packets (or discarding packets) to make up for the difference in data rates between input and output, and 2) altering timing information (for instance, PCR (Program Clock Reference) values) present in some incoming packets to reflect their altered positions in the output stream. Both of these tasks can be facilitated by the use of a FIFO (First-In, First-Out) structure, through which the data flows.