While Apple looks to counter BBM with their iMessage instant messaging solution, the iOS 5 Newsstand plans to house magazine and newspaper subscriptions.  The app, a centralized place that will store subscriptions, will be compatible with plenty of magazines and newspapers. Confirmed outlets include National Geographic, The Daily, The New York Times, Time Magazine, and countless others, thanks to Apple.

Like iBooks, a shelf showcases all subscriptions in one place. Apple says the Newsstand is populated as soon as you purchase apps. The applications is additionally integrated with the home screen so it feels like a newspaper stand.

According to Macgasm, the application “will feature background downloads, so whenever a user picks up their iPhone or iPad, they will have all of the latest issues of their favorite magazines waiting for them.”  With Newsstand, users will have access to all of their digital subscriptions before breakfast is on the table.

Newsstand will launch alongside iOS 5 this fall.

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