UPDATED with confirmation: Vanity Fair has made it official, with the magazine’s parent company Condé Nast confirming today that former Time and current editorial director of The New York Times books department Radhika Jones has been named the fifth editor-in-chief in the magazine’s history. She will begin December 11 in the role vacated by Graydon Carter in September; he had been in the top post since 1992.

The publisher said Jones will oversee all content development, production and consumer experiences for Vanity Fair’s digital, social, video, print and experiential platforms.

“Radhika is an exceptionally talented editor who has the experience and insight to drive the cultural conversation — balancing distinctive journalism with culture and humor,” said Bob Sauerberg, president and CEO of Condé Nast, in announcing the hire, which had been tipped over the weekend. “Her experience covering news and entertainment has given her a thorough understanding of the importance of chronicling and celebrating the moments that matter. With her expansive worldview, I know she will guide Vanity Fair’s history of provocative and enduring storytelling well into its future.”

Said Jones:  “There is nothing else out there quite like Vanity Fair. It doesn’t just reflect our culture—it drives our understanding of it. It can mix high and low, wit and gravitas, powerful narrative and irresistible photography. It has a legacy of influential reporting, unmatchable style and, above all, dedication to its readers. I am honored to succeed Graydon Carter as editor and excited to get to work.”

PREVIOUS: November 11 PM: Former Time magazine editor and current editorial director of The New York Times books department Radhika Jones is expected to become the next editor of Vanity Fair. She will take the place of Graydon Carter, who announced in September that he will step down as editor in December.

Vanity Fair publisher Conde Nast is expected to make the announcement as soon as Monday, according to the Times. The search for the new editor was conducted by the top brass at Conde Nast including the media company’s chief executive Robert Sauerberg as well as Vogue editor-in-chief and Conde Nast artistic director Anna Wintour. The New Yorker editor David Remnick also had a hand in choosing Jones.

As mentioned, Jones has extensive experience in celebrity, journalism, art, and publishing, all of which makes her a prime candidate for Carter’s successor. Prior to her position at the New York Times, she was deputy managing editor at Time magazine and oversaw the popular Time 100 issue. She also worked at the Paris Review, Grand Street, Artforum, and The Moscow Times.

Once Jones officially signs on, she will take over the prestigious position that Carter has held since 1992.