1. A method for generating a user-generated interactive program hosted by a moderator for transmission over a communications network to a plurality of viewers, comprising: dynamically extracting captions and program information from a broadcast media content by an intelligent caption and program information extractor; dynamically organizing, semantic tagging, time coding and putting the captions and program information in a media content database by the intelligent caption and program information extractor; coupling a moderator server to the communications network and the media content database; coupling a moderator client for use by the moderator and a plurality of viewer clients for use by the plurality of viewers to the moderator server through the communications network; dynamically getting the organized, semantic tagged and time coded captions and program information by the moderator using the moderator client to retrieve the organized, semantic tagged and time coded captions and program information from the media content database via the moderator server; dynamically editing the captions by the moderator using the moderator client; dynamically generating moderator comments by the moderator using the moderator client; dynamically receiving viewer comments at the moderator server from the viewers using the viewer clients and transmitting the viewer comments from the moderator server to the moderator client; dynamically editing the viewer comments for viewing by the plurality of viewers by the moderator using the moderator client; dynamically transmitting the organized, semantic tagged and time coded edited captions and program information, moderator comments, and edited viewer comments from the moderator client to the moderator server; dynamically generating the user-generated interactive program by the moderator server utilizing the received moderator comments, the received, edited viewer comments, the organized, semantic tagged and time coded edited captions and program information, and the media content, wherein the dynamically generating the user-generated interactive program comprises: processing the received moderator comments, the received, edited viewer comments, the organized, semantic tagged and time coded edited captions and program information; generating viewer response and caption content based on a collaboration and interaction of the processed moderator comments, the processed viewer comments, the processed program information and the processed captions; and merging the viewer response and caption content based on the collaboration and interaction of the processed moderator comments, the processed viewer comments, the processed program information and the processed captions with the media content; and transmitting the user-generated interactive program by the moderator server to the viewer clients through the communications network, wherein the media content is a digital video signal, and the generating of the user-generated interactive program further comprises: encapsulating an interactive component in a first elementary stream of a digital video broadcast stream, and adding the media content to a second elementary stream of the video broadcast stream.