Lies about television channels (7)
I believe the answer is:
resides
'lies about television channels' is the definition.
The definition and answer can be both to do with fundamental existence as well as being verbs in their -s form.
Perhaps they are linked in a way I don't understand?
'lies about television channels' is the wordplay.
'lies' becomes 'rides' (riding is a kind of lying).
'about' means one lot of letters goes inside another.
'television channels' becomes 'es' (I can't justify this - if you can you should give a lot more credence to this answer).
'rides' enclosing 'es' is 'RESIDES'.
Can you help me to learn more?
(Other definitions for resides that I've seen before include "Lives, dwells" , "stays in Peebles" , "Sojourns" , "stays required" , "stayed in Scotland" .)