There's a slightly alarmist report in the BMJ based on views from the Association of Learned and Professional Society Publishers. It reports reaction to Research Councils UK's proposals (which aren't out yet: the RCUK website says "RCUK has agreed a position statement on access to and dissemination of
the outputs of research funded by the Research Councils. This
information was circulated to Vice-Chancellors in March, to give them
an opportunity to comment before the document is finalised. RCUK expect
to formally release the statement in its definitive form in mid-May
2005").
Research councils' requirements could bankrupt academic journals -- Mayor 330 (7497): 923 -- BMJ.