UPDATE: A source close to the magazine tells E! News, "Everything Page Six said about the Vanity Fair article is not true."
A new report in the New York Post's Page Six claims that the publication is investigating an alleged affair between the World's Most Beautiful Woman and Jeffrey Soffer, a real estate developer who owns the high-end Fontainebleau Hotel in Miami and recently wed model Elle Macpherson.
Page Six also alleges that writer Vanessa Grigoriadis, who is penning the piece on Gwyneth, plans to delve into her fallout with former friend Madonna as well as her casting couch experiences.
"Vanity Fair is asking if Gwyneth had an affair with Jeff back in 2008 when he reopened the Fontainebleau," a source told Page Six. "He flew her in for the party, and she stayed at his house."
Paltrow will celebrate her 10th wedding anniversary with husband Chris Martin in December. The couple has two children together, Moses, 7, and Apple, 9.
The 41-year-old star's rep, Stephen Huvane, has since responded to the cheating allegations, telling E! News:
"Jeff is a longtime friend of Gwyneth's and there was never a romantic relationship between them."
E! News has also reached out to Vanity Fair for comment regarding the Page Six report, but has not heard back from the publication.
And in a seemingly passive-aggressive move this morning, V.F. posted a massive retrospective of Paltrow in their magazine over the years.
The feud between Vanity Fair and Paltrow originally began after the actress, upon hearing that V.F. was planning an article that seemed to have turned into a why-people-love-to-hate-on-Gwyneth type of piece, sent emails to people in her circle, encouraging them to not cooperate with the magazine, sources confirmed to E! News.
On Tuesday, the magazine's Editor-in-Chief Graydon Carter told London's Times magazine in an interview published Sunday that Vanity Fair plans to print a story on the actress, despite Paltrow's protest.
"We started a story on her. We have a very good writer and it'll run," Carter said. "Well, she sort of forced my hand."
He added: "Some famous people believe that they live in a cone of celebrity that protects them...But it doesn't really exist anymore in L.A. unless they stay in. I mean, you can be a well-known movie star and go decades without getting an embarrassing picture in a magazine just by leading a quiet, normal life."
Meanwhile, Paltrow was seen arriving at LAX for a departing flight out of town on Wednesday in the wake of the controversy.
(Originally published on October 18, 2013 at 10:26 a.m.)