Gossip has year ruined (7)
I believe the answer is:
hearsay
'gossip' is the definition.
(I know that hearsay is a type of gossip)
'has year ruined' is the wordplay.
'ruined' indicates anagramming the letters.
'has'+'year'='hasyear'
'hasyear' is an anagram of 'HEARSAY'.
(Other definitions for hearsay that I've seen before include "Common talk" , "Gossip passed around by word of mouth" , "Testimony not based on direct knowledge" , "speculation" , "product of grapevine" .)