First impression: it's run by someone who calls himself/herself 'the all seeing spy', and not surprisingly, it has a gossipy, bitchy tone. Also, it allows anonymous commenters to talk about who is doing whom. So, if you are into that kind of stuff , it's worth visiting every once in a while.
To its credit, TWFN doesn't shy away from naming names! For example, the one that got me to look at it is this story (which names a name) about the aftermath of its earlier 'newsflash' on sexual harassment at an IBN party (which doesn't, identifying the alleged culprit as "IBN's prolific crime reporter").
Here's a short snippet from this post:
There are already hundreds, thousands out there who want to know about the lives of journalists. Not because it's sadistic, but because everyone loves how journalists talk down and then get away with murder. This is, at one level, a dirty, jealous, cheap and regressive industry, and as it gets more technical, younger and less patient, it also gets more angry, less reasonable, more nasty. The world is on the outside, and it's looking in.
Oh, I almost forgot. TWFN also has a detailed commentary about how the Indian news channels handled the Kaavya Viswanathan story.