It sounds sort of like Facebook for celebs, only communications are a one-way street it seems. The news from the people followed via the app is offered in a timeline-style format with news specifically from those you follow mixed with more general trending posts.
Each of the events that are trending will have multiple media reports, images, tweets, and related videos. The app does connect via Facebook so users can sign in and share stories to the social network. The app is available now in the US and only on iOS with no word on more countries or Android/Windows Phone support.

SNIPP3T (pronounced “Snippet”) is a Celebrity News app that snips everything you want to know about your favorite celebrities from all over the web and puts it in one place.
•Subscribe to your favorite celebrity with one click, and the hottest stories about them will show up in your personalized stream of headlines.
•Tap on a celebrity to view their detailed profiles and explore a timeline of news stories surrounding them. You can also tap into a news story to get all relevant story content (news articles, photos, videos, and social mentions) in one place.
•Share your thoughts about the latest news with other fans of your favorite celebrities