The fusion of the web-based blog and the classic magazine. A blogazine is like a blog being that it is generally the thoughts of an individual rather than an organization. However, it is also like a magazine in two ways: the content is higher quality (i.e., more refined, more focused, and more selective), and, more importantly, the design of each blog post/magazine article is custom tailored to the content. A traditional blog will use a templated web design for each post. A blogazine post will have a unique html and css underlying that make each post profoundly different and each post more like an article in a magazine.
There are a few beautiful blogazines I follow. I just wish they would update more often.