Looks like TheWrap‘s Sharon Waxman is putting some of that recently raised venture capital to quick use. Ahead of a press release scheduled for this afternoon, TechCrunch.com shares details of her Hollywood news website’s acquisition of ItsontheGrid.com, a subscription service that monitors Hollywood scripts in development and on the fast track.
The man responsible for the website, Jason Scoggins, will be joining TheWrap as its new Chief Product Officer. He will apparently be helping develop a whole range of unspecified products in the coming year.
As the first reader comment to the TechCrunch article so astutely points out, TheWrap‘s acquisition puts it in a uniquely privileged position of being able to suss out newsworthy items about scripts being developed and optioned by Hollywood. It’s also kind of funny that a deal for something called ItsontheGrid.com follows the release of the similarly lingo-ed TRON: Legacy.
One thing’s for sure. Sustaining an online subscription model is a whole lot easier when the information being offered is “every spec script currently in the marketplace” rather than bits and pieces of news that can be found at a number of other places on the Internet.