The young mother is now moving on in a new relationship with Hammond, La., businessman James Watson, 28, according to the magazine.
Spears, 18, moved out of the Liberty, Miss., house she shared with Aldridge and their 19-month-old daughter, Maddie, about six weeks ago, People reports. She now lives with her mother, Lynne.
Before the teens' breakup, the two had planned to marry after the starlet, then 16, became pregnant, gave birth to their daughter and they set up house together.
Watson would not comment on Spears when he spoke to People. A rep for Spears has not commented on their relationship nor her split from Aldridge. The baby's father is doing construction work in another state, according to a source who spoke to him about the breakup.