As someone who has reviewed hundreds of magazine theme for WordPress, I can tell you that finding the template that fits your needs exactly can take some time. There are plenty of premium magazine themes around. Not all of them are elegant or highly customizable. Goodnews for WordPress is an attractive premium template for magazines and news sites. It has a professional look and feel to it and is highly customizable.
The Goodnews theme works for portals with a ton of images and videos. It has 3 types of posts for your to choose from (article, video, and slideshow). You get 2 layouts and 19 custom widgets. The news ticker feature is pretty neat. Goodnews is social media friendly (Flickr, Facebook, and Twitter are supported). Webmasters do get a set of shortcodes to enhance the functionality of their site more easily.
The Goodnews theme has powerful options you can use to customize it as you wish. It is ready to be localized too. Best of all, the theme is mobile friendly. The ad placements could have been a bit better. But this is one solid magazine theme for WordPress regardless.