A General Generics Question -- Don't Fight The Compiler

I've got a pretty firm grasp on generics such as when to use them, why they are useful, etc. I'm with the rest of the .Net camp when I echo how extremely useful they are. I've also learned that if you're fighting the compiler on generics for more than a few minutes, there is a reason as to why what you are doing is wrong.

The above held true until earlier today when I was left scratching my head over some code that IMO should have compiled just fine. Nothing explains coding problems better than code, so here goes an attempt at an explanation.

I have the following class declaration: 

public class ChannelViewChangedEventArgs<T> : ViewChangedEventArgs<T>
    where T: ChannelCollection<IChannel>

And this class declaration:

public class ChannelView<T> : ContentView<T>, IChannelView<T> 
    where T : class, IChannel, new()

Later on in the ChannelView class I try to new up the ChannelViewChangedEventArgs like so:

new ChannelViewChangedEventArgs<ChannelCollection<T>>(new ChannelCollection<T>())

The compiler then complains that ChannelCollection<T> must be convertible to ChannelCollection<IChannel>. This isn't an option as it removes the benefits of generic type parameters, and seeing as T is of type IChannel I'm a bit confused as to why it won't compile. Then again it's also late at night so if the reason as to why is something obvious I won't be surprised at all. As stated above, if I'm fighting the compiler on something, I'm usually doing something wrong from a design standpoint.

Thoughts?