Crossword Genius

Party running the show out of time and ideas? (8)

Ross

I believe the answer is:

theories

'ideas?' is the definition.
(theory is a kind of idea)

I don't understand how the rest of the clue works.

(Other definitions for theories that I've seen before include "Hypotheses, possibilities" , "Assumptions" , "General principles or possibilities" , "premises?" , "General principles or opinions" .)

I've seen this clue in The Guardian.
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