The American Society of Magazine Editors (ASME) announced today the 2011 Magazine of the Year finalists. The five finalists are The Atlantic, Backpacker, Foreign Policy, National Geographic, and Wired.

“The National Magazine Awards introduced the Magazine of the Year category just last year to honor magazines that have achieved distinction in print, online and on tablets and smartphones,” said Sid Holt, Chief Executive of ASME.

Last week ASME announced the finalists for the other awards categories, with The New Yorker leading the pack with nine nominations, followed by New York magazine, The New York Times Magazine, and Virginia Quarterly Review, each with six nominations.

Katie Couric will be hosting the awards gala, which will take place on May 9 in New York City. At least we know one thing she will be doing for sure in the future.