RELX Shares Fall After University of California Drops Journal Subscriptions
March 01 2019 - 7:54AM
Dow Jones News
By Adria Calatayud
Shares in RELX PLC (REL.LN) fell Friday, hit by news that the
University of California has terminated its subscriptions with the
company's scientific-journal-publishing unit Elsevier.
The UC said Thursday that Elsevier was unwilling to secure open
access--making research available for free--to the university's
research while containing rising costs of for-profit journals,
despite months of contract negotiations.
The UC aimed to make open access the default for research
produced by its 10 campuses while stabilizing journal costs for the
university by integrating subscription charges and open access
publishing fees, it said. However, Elsevier proposed to charge UC
authors publishing fees on top of the university's subscription,
the university said.
Elsevier told Dow Jones Newswires that it was disappointing that
the UC's California Digital Library had broken off negotiations
unilaterally. During the negotiations, Elsevier proposed a model
that supported the university's open-access request and provided a
path to reduce the costs for each campus library, the business
said.
Elsevier said it hoped the divide with the UC could be bridged
soon.
Shares in Elsevier parent RELX at 1207 GMT were down 4.6% at
1,649 pence, in their biggest one-day percentage drop since
November 2016, making the company one of the top fallers in
London's FTSE 100.
Write to Adria Calatayud at
adria.calatayudvaello@dowjones.com
(END) Dow Jones Newswires
March 01, 2019 07:39 ET (12:39 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
RELX (EU:REN)
Historical Stock Chart
From Mar 2024 to Apr 2024
RELX (EU:REN)
Historical Stock Chart
From Apr 2023 to Apr 2024
