By Stephen M. Silverman
Updated August 05, 2003 01:00 AM

Not to beat a dead horse — no, this is not about “Seabiscuit” — but the failure of Jennifer Lopez and Ben Affleck’s $54 million “Gigli” just keeps making headlines.

New York’s Daily News reports that the critical and commercial bomb, which only took in a measly $3.8 million its first weekend, is getting its ads yanked by its studio, Sony Pictures.

Sony will switch its TV and newspaper advertising budget for “Gigli” over to its other release, the far more commercially viable “Bad Boys II,” starring Will Smith and Martin Lawrence, a TV network executive tells the paper.

Theater owners are contractually obligated to play “Gigli” for two weeks, but no one expects it to hang around much after that.

When a movie bombs in its first weekend, “we don’t often see it getting better,” AMC Theaters spokesman Rick King tells the Daily News.

The fall guy here appears to be the movie’s writer-director Martin Brest, whose last film, “Meet Joe Black,” was a major disappointment, despite the starring of Brad Pitt and Anthony Hopkins.

A spokesman for Affleck, Ken Sunshine, tells the New York Post for its Tuesday editions that the failure of “Gigli” is no big deal to the star, 30.

“Ben’s got three terrific movies already completed, and he’s looking at many, many promising scripts,” says Sunshine. “Everybody should have the problems he has.”