The Université de Montréal will cancel about 75% of its Wiley Online Library periodicals.
Here's an excerpt from the announcement:
Out of 1510 periodicals in the Wiley Online Library, the Université de Montréal is cancelling subscriptions to 1142 titles at the end of January. As a result, and from this point on, the articles found in the cancelled titles will no longer be available on-line. However, access to earlier issues will be entirely maintained.
This action results from a process that started a long while ago. The financial cut-backs imposed by the Québec government only accelerated the decision process. The result of the analysis is simple: libraries have been driven to the wall because of the yearly rise of subscriptions to periodicals that hover between 3% and 6%. They cannot go on cutting back the acquisition of monographs to compensate for such price increases. As a result, this conclusion, as well as the adopted solution, would have been the same a few years down the line, independently of the financial context.