Glover had written an article for the magazine about the plan to axe at least 90 journalists' jobs at The Daily Telegraph and its Sunday sister newspaper. The Spectator is part of the Telegraph Group, which was purchased by the Barclay twins last year.
Boris Johnson, the editor of The Spectator, ruled that the story would not be published, which prompted Glover to tender his resignation. Glover felt that as a media commentator it was his duty and that of the magazine to reflect the proposed redundancies of nearly a fifth of the newspapers' editorial team.
His departure comes as Glover's plans to launch a new quality tabloid newspaper appear to have stalled.
City financers are said to have been unwilling to back Glover, founder of The Independent and columnist for The Daily Mail, who has been approaching private equity bidders that lost out in the race for the Telegraph Group.
Glover was reported to have appointed investment firm Cardona Lloyd to help his fundraising efforts.
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