New model for an online journal?

I was catching up with a great source of book reviews and everything else at
Political Theory Daily Review http://www.politicaltheory.info/
when I saw that The New Leader was back.
It had stopped publication as a print magazine in 2005 but was back at www.thenewleader.com


I would paste some of the announcement but cannot because the page announcing this is an image. They are calling it a bimonthy virtual magazine and publishing the issue as one large pdf.
It was indexed in Academic Search Premier and MAS Ultra article by article.

If they pick it up again, I wonder how they will handle the full text. You could index the titles from the bookmarks and the PDF does allow cutting and pasting so you can take it apart and print, email what you like.
But I have not noticed other magazines using quite this publishing model. I've furled this one and will see how they handle archiving and if Ebsco picks up the new version.
Richard