Top notch communist broadcast (5)
I believe the answer is:
aired
'broadcast' is the definition.
('aired' can be a synonym of 'broadcast')
'top notch communist' is the wordplay.
'top notch' becomes 'ai' (resembles 'A1', old-fashioned term for excellent).
'communist' becomes 'red' (red is a kind of communist).
'ai'+'red'='AIRED'
(Other definitions for aired that I've seen before include "Raised" , "Ventilated, or hung out to dry" , "Exposed for drying" , "Made public" , "Broadcast; dried" .)