How about you just 'publish' it online as a PDF file?... You could do the design\layout same as with a paper magazine and then people could either read it onscreen or just print it out themselves if they want a printed copy (most people have some access to a printer either at home or in work, don't they?...) And if the intention is to make some money out of it you could set up a paypal account or something like that and get people either to donate or else pay a fixed fee per issue download.
Sounds like a brilliant idea.
Pete... what do you think?