Noting that launching a new magazine in a competitive market is both complicated and costly, a study analyzed four "Teddy Bear" magazines and their market to determine the viability of launching a new Teddy Bear magazine. The market includes "Bear Tracks,""The Teddy Tribune,""Teddy Bear and Friends," and, most recently, "Teddy Bear Review." To provide the most accurate description of the Teddy Bear magazine market, all available issues from January 1985 to October 1986 were analyzed for 21 separate criteria. Results indicated that each was published in a different city and that all four publications were distributed by mail. The analysis also determined that subscription fees varied from $8.00 ("Bear Tracks") to $14.95 ("Teddy Bear and Friends") and that most Teddy Bear magazines featured either multi-theme, one-image, or multi-theme, multi-image covers. The results of the content analysis were compared with the results of a 1985 study of new consumer magazines. Findings suggested that the development of a new Teddy Bear magazine was viable, since the overall market is growing and advertising and other market factors seem to be stable. However, results also identified the enormous success of the "Teddy Bear Review" as one reason against starting up an additional bear magazine at this time. (The 21 content analysis criteria are included, as are extensive results for the analysis. Forty-one references are also included.) (AEW)