Marvel presumably found the going too tough in the choppy world of magazine publishing and put the kibosh on the monthly after a mere seven issues.
I've also posted the "star" (ahem) packed article from the launch issue. It's an uncanny premonition of things to come: cover boy Matthew Laborteaux (THE RED HAND GANG) went on to star in CBS' WHIZ KIDS later the same year. Did this cover help sway the decision of the producers? I love the non-Hollywood sticky plaster on his hand as well. How glamourous! Some of the other star names are more "who the frak?" and note that TRONner Bruce Boxleitner wasn't going to lower himself to actually appear in the magazine.
And - Nicholas - move on: your Spidey TV show was cancelled waaaaay back in 1979.
I posted - a long time ago - more from the 2nd issue. Find it here.