A new magazine, due to be launched on 1 May 2010, is now open for submissions. NextRead Magazine is "a themed bi-monthly short story magazine". Each issue will contain six to eight short stories on a given theme. It will be published in both PDF and epub formats, and will cost £1.50 an issue.
Issue #0's theme is "Science Fiction combined with Myth". Deadline for submissions is 14 April 2010.
Word limit is 5,000 words. Submit as attached document - doc, rtf, txt. Submissions are only accepted from people who have pre-bought the issue of the magazine. Token payment for stories published in the magazine, and each issue a story chosen by the editor will receive a book "that fits the theme that edition of the magazine".
See here for more details.