It is wrong to define the magazine style in web design as magazine style (does that make sense?). It should have, perhaps, been called newspaper or tabloid styled, it does have that look and feel. To define it, the magazine style within web design are traditionally web sites that are content heavy, by content I mean text and not images, that display their content in blocks or columns of headings with a small excerpt that leads to the full article.
Unlike other web design styles that can use larger images to compliment the design, Magazine is limited to being designed within the parameters that the content (namely, the text and the occasional thumbnail) dictates, and that is were the problem lies. How do you design a web site that is purely text and make it visual eye candy?