Another Spider-Girl is about to appear on the monthly comicbook shelves. It doesn't feature May Parker, but a new Spider-Girl set in the current day Marvel Universe. The title's name is Amazing Fantasy and is to be written by fill-in Amazing Spider-Man scribe, Fiona Avery and pencilled by Mark Brooks.
The existing Spider-Girl title is not being cancelled at the moment, instead both will co-exist as long as sales warrant. The potential audience for both titles seems to be of a similar demographic so Spider-Girl fans have launched a new campaign to insure that May's title continues to prosper. You can check out the details here at the Spider-Girl Message Board. Tom DeFalco has also announced some changes to the title to try and spike interest, including a costume change!
It seems that the new media blitz campaign is working as there has already been some media like here at Chicago Sun-Times.