Satellite Science Fiction ran bimonthly from October 1956 to December 1958, and then monthly from February to May 1959 - and then it vanished. The first two issues were edited by Sam Merwin Jr; publisher Leo Margulies took over for the next three issues, and then Cylvia Kleinman was promoted from managing editor. This is the second issue, dated December 1956, with a fine Kelly Freas cover for "A Glass of Darkness" by Philip K. Dick. It filled 93 pages, so certainly filled the bill of being a complete science fiction novel; revised, it appeared in an Ace Double the following year as The Cosmic Puppets, back-to-back with Sargasso of Space by Andrew North... or Andre Norton, if you prefer. "The Virginia town in which Ted Barton was born had vanished," the contents page told us. "In its place was a strange new community where golems walked and Wanderers shone by night, a strange battleground of cosmic forces that spanned time and the galaxy!"
That didn't leave a huge amount of space in the magazine's 128 pages, but six short stories were fitted in: "Poor, Hungry People" by Frank Bryning, "Four-Billion Dollar Door" by Michael Shaara, "The Man in the Iron Altogether" by Dal Stivens, "Next of Kin" by Algis Budrys, "The Reluctant Orchid" by Arthur C. Clarke, and "The Green Building" by Gordon R. Dickson. To me the idea of devoting so many pages to one story in a magazine seems a little risky; it may have worked with pulps a decade or so earlier, before mass market paperbacks came along, but the times were changing, and "The Magazine that is a Book" description must have stopped some people from picking up every issue.