The MAGIC collaboration reports the detection of the blazar S5 0716+714 ( z = 0.31 \pm 0.08 ) in very high energy gamma-rays .
The observations were performed in November 2007 and in April 2008 , and were triggered by the KVA telescope due to the high optical state of the object .
An overall significance of the signal accounts to S = 5.8 \sigma for 13.1 hours of data .
Most of the signal ( S = 6.9 \sigma ) comes from the April 2008 data sample during a higher optical state of the object suggesting a possible correlation between the VHE \gamma -ray and optical emissions .
The differential energy spectrum of the 2008 data sample follows a power law with a photon index of \Gamma = 3.45 \pm 0.54 _ { \mbox { stat } } \pm 0.2 _ { \mbox { syst } } , and the integral flux above 400 GeV is at the level of ( 7.5 \pm 2.2 _ { \mbox { stat } } \pm 2.3 _ { \mbox { syst } } ) \times 10 ^ { -12 } \mbox { cm } ^ { -2 } % \mbox { s } ^ { -1 } , corresponding to a 9 % Crab Nebula flux .
Modeling of the broad band spectral energy distribution indicates that a structured jet model appears to be more promising in describing the available data than a simple one zone synchrotron self-Compton model .