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      $channel_data =~ s@\[@<lftsqbrk/>@g;
      $channel_data =~ s@\]@<rtsqbrk/>@g;
...
      $channel_data =~ s@\?@<ques/>@g;
      $channel_data =~ s@\&apos;@<apos/>@g;
      $channel_data =~ s@\$@<dollar/>@g;

for ($channel_data) {
    s@\[@<lftsqbrk/>@g;
...
    s@\&apos;@<apos/>@g;
    s@\$@<dollar/>@g;
}

# Outside the loop

...
# Inside the loop

$channel_data =~ s/($re)/$subst{$1}/g;