Heroic Peston broadcast on two channels (12)
I believe the answer is:
stereophonic
'on two channels' is the definition.
'heroic peston broadcast' is the wordplay.
'broadcast' indicates anagramming the letters.
'heroic'+'peston'='heroicpeston'
'heroicpeston' is an anagram of 'STEREOPHONIC'.
(Other definitions for stereophonic that I've seen before include "Combining separate sources of sound" , "through two channels" , "(Of sound) multi-channel" .)