Chapter 11 of the CI Admin describe how to add a channel but does not discuss deleting or modifying. I've attempted this with another customer and found I was not able to delete, rename or modify. Once a channel is created it can not be modified or rename. You will need to create a new channel and hide the old channel from the User as part of the configuration.
SAS Technical support will be able to provide you with additional insight.
Happy Marketing!
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