Premium Magazine WordPress Themes are the most popular themes out there. Most of the Magazine Themes are flexible enough that you can used it for other sites like CMS/Gallery Sites.
Busy Bee Theme
Busy Bee is a WordPress theme with stylish design that will support large amounts of multimedia content. You can definitely use it for a magazine / news site or just for your personal blog. Busy Bee has 13 amazing color schemes to choose from.
Yamidoo Magazine is a Magazine-Style Premium Theme created for any type of informative websites such as a complex News Portal, or simply informative blog. With a simple layout, this theme can be easily adapted to create a perfect look of your blog, whatever how advanced are your skills in web-design.
WP Advanced Newspaper theme contains a lot of new features, including, but not limited to, eye-catching featured entries, and a unique newspaper layout that is easy to navigate and powerful.
The Station, WordPress theme, designed by Adii from WooThemes is a super clean business theme with loads of different options for navigation spaces, widgetized sidebars and custom widgets. The Station comes in total of 8 different colors (Yellow, Creme Lime, Blue Orange and more)
Gotham News is a clean and elegant news theme with a focus on creating a blank canvas with a strong structure to display your own personalized news; and broadcast it to the world. It is perfect for a news/magazine based websites
Monograph is a super quick magazine style theme with great features. The theme has a dynamic slider with 3 easily controlled featured categories with unique widgets. Monograph theme comes with 4 different color schemes (Blue, Green, Red and Pink)