Display comma-separated list of taxonomy terms?
You could try theming the field using field.tpl.php or theme_field().

As an example (using field.tpl.php):


Copy field.tpl.php to your theme directory from "modules/field/theme"
Make a copy of that file and rename it to field--field-channel.tpl.php
Edit the file however you like.  


As a quick/dirty example for this to work, field--field-channel.tpl.php could look like:

&lt;div class="&lt;?php print $classes; ?&gt; clearfix"&lt;?php print $attributes; ?&gt;&gt;
  &lt;?php if (!$label_hidden) : ?&gt;
    &lt;div class="field-label"&lt;?php print $title_attributes; ?&gt;&gt;&lt;?php print $label ?&gt;:&amp;nbsp;&lt;/div&gt;
  &lt;?php endif; ?&gt;
  &lt;div class="field-items"&lt;?php print $content_attributes; ?&gt;&gt;
    &lt;?php foreach ($items as $delta =&gt; $item) : ?&gt;
      &lt;div style="display:inline;" class="field-item &lt;?php print $delta % 2 ? 'odd' : 'even'; ?&gt;"&lt;?php print $item_attributes[$delta]; ?&gt;&gt;
        &lt;?php 
          print render($item);
          // Add comma if not last item
          if ($delta &lt; (count($items) - 1)) {
            print ','; 
          }
        ?&gt;
      &lt;/div&gt;
    &lt;?php endforeach; ?&gt;
  &lt;/div&gt;
&lt;/div&gt;


There are probably multiple ways to accomplish this using the .tpl file, but this is just one option.  I recommend adding a class to the DIV instead of a style and make the changes in your stylesheet instead of using inline styles.