Also, you can only change the channel, if you have not used any of the Program Statuses in any Smart Campaigns.
Adding a detail to the two suggestions above: defining a new event and adding the members from the original would be the simplest solution if you already have event members. You can use filters such Member of Program in order to set the progression status in the new program.
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Adding detail to the above:
Be aware of double scoring members if you end up moving them to a new event. Depending on how your channel scoring is set up, you could potentially score individuals for both events. You can rectify this with a "Change Score" flow step.