According to your profile you are in Australia, is that right? I don't know anything about the publications there (or in America for that matter) as I'm in the UK. There are, however, a number of magazines available which seem to be heterosexual bodybuilding magazines but they have noticeably "prettier" models" who are not only bare chested, but are often depicted as working out in speedos or lycra - often with almost anatomical tightness (if you see what I mean). The kind of advertisements carried in these magazines is often telling as well, often being very discretely worded but referring to muscle-videos which are "all male" etc). The intended market is clear (although it is uncertain whether the publishers actually expect the readership to actually DO any of the featured exercises...). Magazines with titles like "Men's Workout" etc.....

Some Gay lifestyle magazines will carry sections on exercise.

Personally I enjoy reading the Weider magazine "Muscle and Fitness" which seems gender neutral to an extent in as much as it has features aimed at men and women. Like most of the world, there is a heterosexual bias but I think you're likely to find that anywhere. Nevertheless it seems less testosterone-ey than magazines like "Flex" etc, and is aimed at serious gym goers who nevertheless are not focussed on looking like some kind of medical-curiosity... (Not saying there's anything wrong with that if you want the vascularised, striated look, but it's not for me).

I have not heard of any specifically-gay bodybuilding magazines. I don't know if there would be enough demand for such a publication to be viable...

Kind Regards
Dave