AND NOW HERE’S THE NEWS: Penthouse has...

AND NOW HERE’S THE NEWS: Penthouse has pulled the plug on Spin magazine, which it launched two years ago as an irreverent alternative to Rolling Stone. The monthly’s best-selling issue featured a scathing cover story on Michael Jackson. Its top circulation was said to be about 150,000, compared to 1.1 million for the biweekly Stone. Spin publisher Bob Guccione Jr. is reportedly seeking new financial backing to keep it going. . . . Diane Keaton has directed the video for Belinda Carlisle’s “Heaven Is a Place on Earth,” from the singer’s upcoming “Heaven on Earth” album. Keaton, who directed the recent feature film, “Heaven,” met Carlisle last year at a party and it was, by all accounts, a match made in . . . oh, never mind. . . .

Madonna’s long-planned album of dance mixes of key album tracks--due in October--will feature one new song, “Spotlight,” and one club smash, “Into the Groove,” that hasn’t previously appeared on an album. . . . The dB’s have added a new member: L.A.’s Eddie Munoz, who was formerly lead guitarist with the Plimsouls.