What’s most interesting to me is that she’s backed with venture-capital money:

NEW YORK — Following on the heels of successful, niche Web sites, former New York Times Hollywood correspondent Sharon Waxman on Monday will launch Thewrap.com. It will consist of news, features and commentaries dealing with the entertainment industry.
Maveron, the Seattle venture capital company, is the lead investor, Waxman told me in a telephone interview Sunday.
The Los Angeles-based Waxman expects to publish at least “two impact stories a day,” as well as “writing the news as it comes through.”
Waxman intends to build a site that will come to be known as the “go-to” Internet destination for Hollywood news junkies, just as Politico has established itself in the political universe and Walt Disney’s (DIS: 21.33, 0.73, 3.54%) ESPN is omnipresent in the sports world.
By some key measures, Waxman is striking at a potentially opportune time.
… Struggling newspapers have had to cut back on publishing news and features on all sorts of topics, including the entertainment industry. Waxman, also the author of some well received books, recognizes that the deterioration of the traditional print media represents both a cautionary tale and an opportunity.