Pros
I interned with Seventeen magazine after having been a big fan of it for many years. I recommend you plan ahead and get a head start in interning here if you're into the women/teen brands since it's a great start but no longer seen as impressive since they recycle interns each semester, EVERYONE has it on their resume. Don't make seventeen the cherry on top of your resume right before graduation, instead try mixing two internships together, whether it's Good Housekeeping, Cosmo, Dr.Oz , etc. I interned for a few other brands in the building for about a year and a half and I found that you have a lot of freedom to try to make it the best for yourself. it was obvious that a lot of staff members don't trust their interns or are insecure about handing off quality work. Most magazines are shrinking so they can't give away bylines like they're candy. However you have access to a great roster of people to email for coffee or a take a long lunch and go on an informational interview if you can get one. Different types of personalities among staff members, some grumpy and stressed out people and some happy people who are working in an industry they love.
Cons
You won't always get good work to do and it's easy to get burnt out. Take the opportunity to learn new skills during down time. While there are opportunities to move up, getting an interview with HR through their company website is almost impossible. Some brands are really killing it on the social and digital space (because they're household names not necessarily cause the content is good), but who really buys their print anymore when you can get the exact content for free online? I wouldn't even read them if they were free at the dentists office and I actually know some of the people writing it.