Gossip live about soap sketch (12)
I believe the answer is:
blatherskite
'gossip' is the definition.
(thesaurus)
'live about soap sketch' is the wordplay.
'live' becomes 'be' (synonyms).
'about' indicates putting letters inside.
'soap' becomes 'lather' (synonyms).
'sketch' becomes 'skit' (short comedy performance).
'lather'+'skit'='latherskit'
'be' placed around 'latherskit' is 'BLATHERSKITE'.
(Other definitions for blatherskite that I've seen before include "fool" , "(Person talking) nonsense -- a Lettish berk (anag)" , "pants" , "Chatterer" .)