You actually do not "transfer" anything from one to the other.
Rather, all of the prior content you've purchased (books, magazines, etc) reside within the "cloud" as part of your amazon account.
So with the new kindle, upon the initial setup, you'll first connect to your home wifi network, and then register it to your existing amazon.com account.
Upon registering, all of your prior content should sync up automatically with the new kindle. If you dont' see it, look for the CLOUD library on the new kindle, rather than in the device library, and you should find the items there. Each time you select a title in the cloud library, it will prompt it to download to your new kindle devies actual internal memory for local storage, and it can then be found in the device library as well.
Let me know if you get stuck.