The most common and most likely answer to this crossword clue is the 8 letter word BINAURAL
I've seen this crossword clue in The Times
B
I
N
A
U
R
A
L
More clues leading to the result BINAURAL
Buddy explains!

The straight part
We know that "with two channels" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case with two channels = binaural.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does BINAURAL mean?
BINAURAL adjective- Of, relating to, affecting, or designed for use with two ears.