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The State University of New York Libraries Consortium announced on April 7 that it will not renew its bundled journal subscription deal with publisher Elsevier.

“While both parties negotiated in earnest and tried to come to acceptable terms for SUNY to maintain access to the full ScienceDirect package, in the end there was considerable disagreement around the value proposition of the ‘big deal,’” said the SUNY Libraries Consortium in a statement.

By subscribing to a core list of 248 journals, the SUNY libraries anticipate saving around $5 to $7 million per year. They currently spend around $10 million annually.

The University of North Carolina at Chapel Hill also announced last week that it is canceling its big deal with Elsevier for budgetary reasons.

Elsevier is piloting several new subscription models with consortia in Sweden and Ireland, as well as Carnegie Mellon University.