The traditional perspective in quantum resource theories concerns how to use free operations to convert one resourceful quantum state to another one. For example, a fundamental and well known question in entanglement theory is to determine the distillable entanglement of a bipartite state, which is equal to the maximum rate at which fresh Bell states can be distilled from many copies of a given bipartite state by employing local operations and classical communication for free. It is the aim of this paper to take this kind of question to the next level, with the main question being: What is the best way of using free channels to convert one resourceful quantum channel to another? Here we focus on the the resource theory of entanglement for bipartite channels and establish several fundamental tasks and results regarding it. In particular, we establish bounds on several pertinent information processing tasks in channel entanglement theory, and we define several entanglement measures for bipartite channels, including the logarithmic negativity and the $ąppa$-entanglement. We also show that the max-Rains information of [Bäuml et al., Physical Review Letters, 121, 250504 (2018)] has a divergence interpretation, which is helpful for simplifying the results of this earlier work.