Open Access News

News from the open access movement

Friday, October 08, 2004

Citicorp sees OA threat to Elsevier

Nick Hasell, Larger capitalisation shares: Reed Elsevier, Times Online, October 9, 2004. Excerpt: "Reed Elsevier gave up some of this week's gains on concerns that a slowdown in revenue growth in the publisher's science division could leave its shares looking expensive. In a circular entitled Science Friction, Citigroup suggests the Anglo-Dutch media group is at a 'pivotal moment' in its history. Rogan Angelini-Hurll, an analyst, suggests Reed has been one of the best performers in its sector over the past four years....Mr Angelini-Hurll also says that price pressure and the emergence of 'open access' publishing will require publishers to invest more either through internal capital expenditure or acquisition. On those grounds, Citigroup has moved from 'hold' to 'sell', while lowering its price target from 500p to 430p. Reed Elsevier fell 7p to 501p."