Broadcast live in two different ways (4)
I believe the answer is:
beam
'broadcast' is the definition.
('beam' can be a synonym of 'broadcast')
'live in two different ways' is the wordplay.
'live' becomes 'be' ('be' can be a synonym of 'live').
'in two different ways' becomes 'am' (I am not sure about this - if you are sure you should believe this answer much more).
'be'+'am'='BEAM'
(Other definitions for beam that I've seen before include "Wide grin" , "Smile, transmit (radio signal)" , "Smile; piece of timber" , "Smile widely; ray" , "A broad smile like lunar ray" .)