Party's broadcast censored (4)
I believe the answer is:
band
'party's' is the definition.
(thesaurus)
'broadcast censored' is the wordplay.
'broadcast' shows a homophone (sound like) (how the word might sound on the radio or TV).
'censored' becomes 'banned' ('ban' can be a synonym of 'censor').
'banned' sounds like 'BAND'.
(Other definitions for band that I've seen before include "Outline drawing" , "company" , "Belt; group of musicians" , "Players" , "Pop group; stripe" .)