Newsstand is a new feature of iOS 5 that collates all of your magazine and newspaper subscriptions for the iPad, iPhone and iPod touch and puts them all in one place for easy management. The new app also automatically updates the periodicals that you have subscribed to quietly in the background, so that they are there waiting for you when you want to read the latest issue. You can also use the app to shop on the App Store for more subscriptions.
via (The AppleBitch)