TheWrap_1.26.bmpFormer New York Times Hollywood correspondent Sharon Waxman has taken the wraps off Thewrap.com, a news site for the entertainment industry.

Marketwatch.com’s Jon Friedman spoke with Waxman about how the new venture will be different than what’s out there.

“Our competitive advantage is not only the big stories we can break,” she said. “We feel that there is a need for someone to be talking about the transformational changes that are going on in the media and entertainment industries. Traditional publications don’t (seem) very differently from the way they did 20 years ago.”

In addition to breaking entertainment news, Waxman hopes to have “Hollybloggers:” writers who are well known in the Hollywood community.

“Why am I doing this? I see an opportunity. If I don’t do it, someone else will,” she tells Friedman.