Yes. It basically means "talks about". It's generally used to imply that someone is trying to influence his/her audience about something. For example: "He was spinning a line about the latest natural disaster being caused by global warning". Thus, PR people who represent political parties are often referred to as "spin doctors".
You may also hear the expression "to spin a yarn" about something. On the face of it, this simply means to tell a story about something. However, it is often used to imply that the story is not true, or is exaggerated in some way.
Student or Learner