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Saeed Shah, Reed Elsevier earnings forecast disappoints market, The Independent, December 2, 2004. Excerpt: 'Reed Elsevier, the publishing giant, warned that trading in the science journals market remained tough. The company's shares fell 3 per cent to close at 473.5p. As well as the news on Reed's science arm, some in the City were disappointed that the company did not raise its earnings guidance for 2004....Reed said that [journal] prices would rise by less than 5 per cent this year. To counter its critics, it added that it would publish 4 per cent more articles in its journals in 2004. Also, in response to claims that it is losing the loyalty of scientists to the alternative "open access" publishing model (where there are no subscription charges), Reed said that articles submitted by researchers for possible publication were up 7 per cent this year.'
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