Cover talk hosted by journalist on the way up (5)
I believe the answer is:
drape
'cover' is the definition.
(thesaurus)
'talk hosted by journalist on the way up' is the wordplay.
'talk' becomes 'rap' (rapping is a kind of talking).
'hosted by' is an insertion indicator.
'journalist' becomes 'ed' (short for editor).
'on the way up' says the letters should be written in reverse.
'ed' backwards is 'de'.
'rap' put into 'de' is 'DRAPE'.
(Other definitions for drape that I've seen before include "Hang - curtain" , "Cover loosely with cloth" , "Hanging cloth used as a blind" , "Wrap loosely (with cloth)" , "Arrange (cloth) loosely round something" .)