NEW CONSUMER MAGAZINE TO TARGET ONLINE WORLD Newsweek Inc. and San Francisco start-up Virtual Communications Inc. say they plan to launch Virtual City, a lifestyle magazine positioned as "a consumer's guide to the online community." The magazine is being developed as a quarterly and will hit newsstands in September with a planned distribution of 300,000. Jonathan Sacks, 43, formerly publisher of Ziff-Davis' PC Computing and Corporate Computing magazines, will serve as publisher and editorial director of the new title. Lewis D'Vorkin, 42, a former Newsweek business editor and most recently editorial director of Ziff-Davis, will serve as editor-in-chief. "Virtual City will serve the online community the way New York Magazine, Chicago Magazine, Los Angeles Magazine or any big-city magazine serves its readers," Sacks said. Following the format of successful city guides, Virtual City will offer news items up front, in-depth features on products and personalities in the middle, and extensive listings and reviews in the back, the companies said. Selected stories from Virtual City also will be published as an editorial "Focus" section in Newsweek's "Business Plus" demographic edition, which reaches about one million of Newsweek's three million U.S. subscribers, the company said. Newsweek is a subsidiary of The Washington Post Co. =Cowles /SIMBA Media Daily 5/23 /95=