09/11/2008 05:12 am ET | Updated May 25, 2011

Sharon Waxman, Former NYT Hollywood Correspondent, Plans Hollywood Must-Read Site "The Wrap"

Sharon Waxman, the former New York Times' Hollywood correspondent, is planning to launch a Web site dealing with all aspects of the entertainment scene.

According to a press release obtained by MarketWatch, Waxman's The Wrap LLC is expected to announce Monday the completion of a round of "seed-funding of $500,000."

Based in Los Angeles, where Waxman makes her home, and in New York, The Wrap News will be a news and information network encompassing the entertainment and media industries, which will be available on many platforms.

It will roll out in January.

"This will be the place where you can get everything about Hollywood," Waxman told me.

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