Channel can mean two things in RC. On has to do with the frequency channel the other has to do with control channels. Your radio operates in the 72MH band, but on that band, RC airplanes are allowed to use 50 different frequencies. In order to make things simple for folk, the frequencies are numbered 11 to 60. Yours happens to be on channel 60 which is 72.990 MHz. You radio has four control channels, i.e., it can control four devices or servos. This is an older model TX, so $20 is a fair price for the radio.

Frequency chart: http://members.citynet.net/kbrown/Fm...FreqChart.html