Our friends at BERG have just made this lovely video/concept with/for Bonnier. It's called Mag+ and it embodies all sorts of clever thinking about porting magazines onto digital devices.
It's worth contrasting that with a similar exercise done by Time Inc, using Sports Illustrated. There are clearly loads of differences, one being the more considered designerly approach versus the brasher, more salesy one. But the most telling difference is that the BERG/Bonnier example seems focused on improving the experience and the Time one seems focused on preserving revenue. Now, preserving revenue is a noble aim, but the best way to get there is to think hard about users and their experience, not by trying to dazzle advertisers into thinking magazines are just like TV.