19. A system for producing a multimedia summary of at least one multimedia stream, the summary comprising key elements selected from said at last one multimedia stream, the system comprising: a modality recognition and division (MRAD) module comprising a story segment identifier (SSI) module, an audio identifier (AI) module and a text identifier (TI) module, the MRAD module communicatively coupled to a first external source for receiving said at least one multimedia stream, the MRAD module communicatively coupled to a second external source for receiving said at least one multimedia stream, the MRAD module dividing said at least one multimedia stream into a video, an audio and a text sub-stream and outputting said video, audio and text sub-streams to a key element identifier (KEI) module, the KEI module comprising a feature extraction (FE) module and an importance value (IV) module for identifying key elements from within said video, audio and text sub-streams and assigning importance values thereto, the KEI module communicatively coupled to a key element filter (KEF) for receiving the identified key elements and filtering said key elements that exceed a pre-determined threshold criteria, the KEF module communicatively coupled to a user profile filter (UPF) for receiving filtered key elements and further filtering said filtered key elements in accordance with a user profile, the UPF module communicatively coupled to a network and device constraint (NADC) module, said NADC module receiving said further filtered key elements and further filtering said further filtered key elements in accordance with network and/or user device constraints, the NADC module outputting a multimedia summary of said at least one multimedia stream which comprises key elements remaining after said further filtering in the NADC module.
19. A system for producing a multimedia summary of at least one multimedia stream, the summary comprising key elements selected from said at last one multimedia stream, the system comprising: a modality recognition and division (MRAD) module comprising a story segment identifier (SSI) module, an audio identifier (AI) module and a text identifier (TI) module, the MRAD module communicatively coupled to a first external source for receiving said at least one multimedia stream, the MRAD module communicatively coupled to a second external source for receiving said at least one multimedia stream, the MRAD module dividing said at least one multimedia stream into a video, an audio and a text sub-stream and outputting said video, audio and text sub-streams to a key element identifier (KEI) module, the KEI module comprising a feature extraction (FE) module and an importance value (IV) module for identifying key elements from within said video, audio and text sub-streams and assigning importance values thereto, the KEI module communicatively coupled to a key element filter (KEF) for receiving the identified key elements and filtering said key elements that exceed a pre-determined threshold criteria, the KEF module communicatively coupled to a user profile filter (UPF) for receiving filtered key elements and further filtering said filtered key elements in accordance with a user profile, the UPF module communicatively coupled to a network and device constraint (NADC) module, said NADC module receiving said further filtered key elements and further filtering said further filtered key elements in accordance with network and/or user device constraints, the NADC module outputting a multimedia summary of said at least one multimedia stream which comprises key elements remaining after said further filtering in the NADC module. 24. The system of claim 19 , wherein the NADC module is communicatively connected to an external network coupled to a user device.