Business Notes PUBLISHING

Many entrepreneurs suffer from shaky financing, but few are cut off by their own fathers. That is the predicament of Robert Guccione Jr., 31, who is editor and publisher of Spin, a pop music magazine. Penthouse Publisher Robert Guccione Sr., 56, has decided to stop providing money to keep Spin spinning.

The younger Guccione started Spin two years ago with a $500,000 loan from his father, but maintained editorial independence and was the sole owner of the Spin trademark. Off to a promising start, Spin has built a circulation of 150,000 and become a respectable challenger to its archrival Rolling Stone (circ. 400,000). But the elder Guccione, whose company has taken about $3 million in losses on Spin, wanted to assume authority over the magazine by making it part of the Penthouse business. His son refused to give up control and now hopes to keep Spin alive with backing from outside sources.