The Collaborative International Dictionary of English v.0.48:

Gossip \Gos"sip\, v. i. [imp. & p. p. Gossiped; p. pr. & vb.
   n. Gossiping.]
   1. To make merry. [Obs.] --Shak.
      [1913 Webster]

   2. To prate; to chat; to talk much. --Shak.
      [1913 Webster]

   3. To run about and tattle; to tell idle tales.
      [1913 Webster]

WordNet (r) 3.0 (2006):

gossiping
    n 1: a conversation that spreads personal information about
         other people [syn: gossiping, gossipmongering]