Lay journalist receiving honour (5)
I believe the answer is:
embed
'lay' is the definition.
(to embed is to lay or set in place)
'journalist receiving honour' is the wordplay.
'journalist' becomes 'ed' (short for editor).
'receiving' is an insertion indicator.
'honour' becomes 'MBE'.
'ed' going around 'mbe' is 'EMBED'.
(Other definitions for embed that I've seen before include "Fix firmly in surrounding mass" , "war reporter" , "one placed in a military unit" , "Plant deeply" , "Fix in the mind" .)