Puede usar INSERT...SELECT sintaxis. Tenga en cuenta que puede citar '1' directamente en la parte SELECCIONAR.
INSERT INTO mt_magazine_subscription (
magazine_subscription_id,
subscription_name,
magazine_id,
status )
SELECT magazine_subscription_id,
subscription_name,
magazine_id,
'1'
FROM tbl_magazine_subscription
ORDER BY magazine_subscription_id ASC