Microsoft launched a beta version of a new celebrity gossip website called Wonderwall.com. The website is filled with pictures of celebrities that visitors can click on to read news stories, features and commentary. The site is designed to complement Microsoft’s existing significant coverage of the celebrity and entertainment scene on its MSN portal.

Microsoft is just one of many companies attempting to tap into the celebrity gossip market. Other sites include gossip sites such as AOL’s TMZ.com and Yahoo’s OMG as examples. With its site, Microsoft is attempting to increase revenues from ads. However, since the supply of sites for gossip news is quite saturated, and the fact that the recession has hit advertisers as well as consumers, it is a somewhat surprising move by Microsoft. Microsoft has so far disclosed just one major Wonderwall.com advertiser: Kraft’s Crystal Light.