Spin magazine is restructuring its management, but a spokeswoman denied rumors that it is going out of business.

NEW YORK--Spin magazine is restructuring its management, but a spokeswoman denied rumors that it is going out of business.

The New York-based magazine's acting publisher, Alex Mironovich, and associate publisher, Michael Zivyak, both resigned Monday. Jacob Hill, previously a senior consultant to Budget Living magazine, has come aboard as publisher, a position left vacant since Jonathan Chalon exited in mid-2003. Hill was a co-founder and publisher of Arthur Frommer's Budget Travel magazine.

Spin has suffered a decrease in advertising revenue over the past few years. According to Billboard sister publication Mediaweek, Spin's ad pages fell 14% in 2003 from the previous year. In 2004 to date, Spin has run 132 ad pages, down 8% from 2003.

According to the Audit Bureau of Circulations, as of December 2003, Spin's paid circulation was 560,531. Vibe is No. 2, with 834,984 in paid circulation. Rolling Stone is No. 1, with paid circulation of 1.3 million.

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