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In this paper, we present a novel framework that exploits an informative reference channel in the processing of another channel. We formulate the problem as a maximum a posteriori estimation problem considering a reference channel and develop a probabilistic model encoding the interchannel correlations based on Markov random fields. Interestingly, the proposed formulation results in an image-specific and region-specific linear filter for each site. The strength of filter response can also be controlled in order to transfer the structural information of a channel to the others. Experimental results on satellite image fusion and chrominance image interpolation with denoising show that our method provides improved subjective and objective performance compared with conventional approaches.