It appears that the rumors recently tapped by Advertising Age media editor Nat Ives were accurate. Per his June 13 item, sister publication Billboard is reporting tonight that BUZZMEDIA will indeed announce tomorrow that it has acquired SPIN magazine:

According to the source, BUZZMEDIA will evaluate the viability of the print magazine, adding that there is an expectation that the September/October issue of the magazine – with a planned Azalea Banks cover – may be its last in print before becoming a digital-only brand.

This newest acquisition would fall under the purview of music VP & GM Bill Jensen, recently hired away from Village Voice Media, where he was director of new media. In May, BUZZMEDIA acquired San Francisco-based electronic dance music and culture online mag XLR8R.

In a recent feature article, SPIN counted down “The 40 Greatest Band Names of All Time.” Can you guess who snagged the number one spot?

Update – 07/10/12: Here’s the official press release and SPIN’s take.