Pavor Nocturnus is a new quarterly Horror magazine that is looking to launch in October. It will be a released in both print and ebook formats. Stories not selected for the print magazine may be optioned for their online content. They're looking for stories of 1000 to 7500 words in length. This is a non-paying market. You can find the submission details here.
Hat tip to the Literarium blog!
UPDATE: February 13, 2015 This site has disappeared into the ether.