Top journalist covering current Muslim festival (3)
I believe the answer is:
eid
'muslim festival' is the definition.
(Islamic term for festival, eg Eid al-Fitr)
'top journalist covering current' is the wordplay.
'top journalist' becomes 'ed' (short for editor).
'covering' indicates putting letters inside.
'current' becomes 'I' (symbol for electric current).
'ed' going around 'i' is 'EID'.
(Other definitions for eid that I've seen before include "feast" , "religious festival" .)