Discount travel site ShermansTravel.com becomes the latest to try spinning a magazine off the web — a quarterly travel pub called, what else, Sherman’s Travel. The site was founded in 2003 by former Martha Stewart Living Omnimedia exec James Sherman; Gannett has a minority stake. Can a site with 1.5 million monthly uniques in June support a magazine? Turns out the target audience comes Sherman’s newsletter, not the site itself — he told the NYT he wants to appeal to the most affluent quarter of his newsletter readers. Her calls the goal “luxury value.” Magazine guru Samir Husni’s take: “What’s your definition of luxury? If you are looking for luxury, you are not going to worry about price.” Larger sites Expedia and Travelocity gave up on their magazines. Sherman says he can succeed by being unique and not being a booking site.