Broadcast live on set involving current set (10)
I believe the answer is:
television
'set' is the definition.
(television is a kind of set)
'broadcast live on set involving current' is the wordplay.
'broadcast' is an anagram indicator.
'involving' means one lot of letters goes inside another.
'current' becomes 'i' (symbol for electric current).
'live'+'on'+'set'='liveonset'
'liveonset' with letters rearranged gives 'televison'.
'televison' going around 'i' is 'TELEVISION'.
(Other definitions for television that I've seen before include "Gogglebox" , "Tube" , "box set" .)