Purportedly [1], TechCrunch exited for less than $50 million. That's in the range Arrington himself might classify as a "dipshit" company, but it's a pretty good exit for a blog type business.
I suspect that if someone applied with a blog/magazine that looked like it could be worth a billion or two, YC would bite. Then again, it probably wouldn't really be a blog/magazine.
Good luck.
[1]: per Wikipedia