It's about time for a piece of news (4)
I believe the answer is:
item
'a piece of news' is the definition.
(I've seen this in another clue)
'it's about time' is the wordplay.
'time' can be anagrammed to 'ITEM'.
Though, I am not sure how the anagram is indicated.
'for' is the link.
Can you help me to learn more?
(Other definitions for item that I've seen before include "Boyfriend and girlfriend" , "date" , "Article (on list or in news)" , "A single piece of information" , "Bit of news to broadcast" .)