A magnetoresistive (MR) read transducer has a thin film MR layer of ferromagnetic material and a nonmagnetic spacer layer in contact with the MR layer. The thin film spacer layer comprises an alloy of titanium (Ti) and tungsten (W) having a high resistivity. A thin film of soft magnetic material is deposited in contact with the nonmagnetic spacer layer so that the soft magnetic material is positioned parallel to, but spaced from, the MR layer. A feature of the invention is that the resistivity of the nonmagnetic spacer layer can be a specific value selected from a broad range of resistivity values by selecting the thickness, the Ti content, and/or the nitrogen content of the nonmagnetic spacer layer.