Blip Magazine's Winter Issue 2012 is online: "It’s funny stuff, confounding stuff–curious, affecting, off-putting, inarticulate, beautiful and true, variously."
With the winter issue, a larger archive of former issues that reaches back to 1995 went online. Here's the story of it: In early 1995, the literary magazines Mississippi Review launched an online edition: MROnline. It was one of the first literary magazine, and featured original content not connected to the print edition.
In May 2010, after a change of organization, the archives of MROnline went offline. Now they were brought back by the editors of the past issues, and can be found in the Magazine Archive of Blip. The archives include links to the content pages, and also 2 PDF-issues: The LitMag at 100 and The Movies Issue.
The First Online Literary Magazines
Following the theme of first online literary magazines, there's a list with links to some of the first online literary online magazines up at The First Online Literary Magazines, an link page that belongs to BluePrintReview re/visit issue. Some of the early magazines aren't online anymore, some still have archives up, and some could be retrieved with help of the wayback machine.