That's all well and good, but it is also disconcerting, as one of the things they seem to want to foist on any takers is to make sure that it continues on as a published magazine.
Frankly, they previously got most of their labor for free, did large benefit events, got grants, charged about $3.50 a magazine -- and still couldn't afford to keep going. It makes you wonder how anyone will do better given the circumstances, without a considerably larger bankroll to grow the magazine... and it certainly makes you question the viability of doing a color magazine with a very limited print run.
It might be a good idea to do the whole thing online for awhile, as it could greatly reduce their overhead, and help create a more active, non-geographically centered online community around the project. ATM never made good use of their web site, and its content was annoyingly static... which seems silly for a magazine that was based out of San Francisco.
Maybe with a good, community-driven website, ATM could generate some content and assistance from a larger community, and use that as a jumping off point for printed works and other material. It worked for Nerve, after all.. and frankly, despite its somewhat stylish design, Nerve could be better.