Jerome Ware/ZUMAPress.com, Dimitrios Kambouris/WireImage
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.