Many of you know that I have been working on creating a new company to cover Hollywood. Marketwatch has the story today.
Here is the press release we issued:
THE WRAP NEWS CLOSES SEED ROUND
Hollywood News and Information Network,
Led by Sharon Waxman, Readies January 2009 Launch
LOS ANGELES, CA, August 11, 2008 – The Wrap News LLC announces the completion of a round of seed funding of $500,000.
Based in Los Angeles and New York, The Wrap News is a news and information network covering the entertainment and media industries that will be available on multiple platforms. It will begin with an online presence at thewrapnews.com, in coordination with editorial partners, in January 2009.
Led by nationally renowned journalist Sharon Waxman, the former Hollywood correspondent for The New York Times, the site will be anchored by other top journalists in the fields of entertainment and media.
Using the Web, they will marry top-quality journalism in real time with social networking functions to build a premium community of users that interacts with reporters and the news that affects their lives. The Wrap News will feature both original news content and aggregated news from around the Web, as well as user-generated content.
The Wrap News will build the best, most dynamic, most valuable and most discerning community of entertainment professionals, influencers and enthusiasts on the Web.
“We’re very excited about the opportunity that the Web has presented us at a time when newspapers are struggling,” said Waxman. “The Wrap News will fill a gaping space on the entertainment landscape for smart, sophisticated news and analysis, enhanced by the contributions of an incredibly talented community – entertainment and media insiders and those who are passionate about those worlds.”
About The Wrap News LLC:
The Wrap News LLC is a news and information network that will deliver high-quality, original news content covering the entertainment and media industries, while connecting the global community of entertainment professionals, influencers and enthusiasts.
For More Information:
Tim Doyle
Investor Relations:
Ted O’Donnell
(646) 213-1295
