There are a couple of apps out there that condensed "tweets" into magazine style content. Flipboard is the best-known app for this, for both the iPad and iPhone. Thirst is the latest example, that released earlier this year, has been updated today with universal support for the iPad.
Aside for displaying content in a magazine style, it groups "tweets" by topics you and your friends are "tweeting" about. Certainly this makes it easier and more appealing when trying to get the most out of certain news.
Even though the app doesn't look that much of a magazine, like Flipboard does, Thirst also works as a regular Twitter app allowing for sending "tweets", seeing your mentions, search, trends and now favorites.
Also with the latest update it syncs through iCloud with all your iOS devices.
The app is free and available as a universal app (iPhone/iPad/iPod Touch) in the App Store [iTunes Link].