New York-based Jupiter, which also organizes Internet-focused conferences and other events, is investing in the upcoming publication to share traffic and strengthen its ties within media circles, it said in a statement.
"We do a lot of research and analysis for media companies, and we do a lot of business with the same people that they do," said Jupiter spokeswoman Kate Berg.
Besides providing news on the inner workings of media and entertainment empires, Inside.com will provide database searches that can help media buyers locate available manuscripts, contact movie houses or find jobs.
Powerful Media is Inside.com's parent company. It is run by media mavens Kurt Andersen, former New York magazine editor; Michael Hirschorn, former editor in chief of Spin magazine; and Deanna Brown, former president of Brill's Content.
The big names have attracted a lot of media attention for Inside.com, but the Web site is launching at a low point for many content providers. The down market, coupled with a public that has grown accustomed to receiving content for free, has cut into profits.