After many attempts at trying to get a fully functional magazine theme, Finally give you: Aparatus

2 columns, right sidebar, wodget ready, 125×125 ad zones, footer widgets, cross-browser compatible (Internet Explorer 6.0+, Firefox 2+, Opera 9+, Safari 3+ and Chrome 0.2+)

ProudFolio WordPress theme is aimed at aspiring designers, developers, artists and photographers who like to showcase their work. ProudFolio incorporates a framework that you can manage the content easily.

Newsport is a stylish magazine theme aimed at those who want a more professional feel to their site. It includes a well laid out front page that showcases all your news with images, and also a cool category news feed on the side so that all content of your site gets to shine.

The Abstract theme for Wordpress is a colorful and beautifully illustrated created by WooThemes in collaboration with Veerle Pieters. Abstract Wordpress themes displays a fun and professional layout that you can easily use as a business or personal theme.