The Association for Learning Technology has released Journal Tendering for Societies: A Brief Guide.
Here's an excerpt:
Hundreds of societies publish journals in collaboration with publishers. Some may be considering how and whether to renegotiate or go out to tender. Some may be considering whether they can/should/wish to change the business model of the journal (e.g. by a move to Open Access). Other societies may be considering using an external publisher for the first time. This guide, based on our experience, is written for all of these. . . .
In mid October 2010 we issued a request for proposals (RFP) for a new publisher. We had interest from six publishers who asked questions about our intentions. We then received four proposals: one which offered an Open Access model only, one which offered both Open Access and conventional publishing as discrete alternatives, and two which offered approaches that included an Open Access component. Three of the proposals were from big publishers. After evaluating the proposals, ALT's Trustees decided in December 2010 to make the journal, which has been renamed Research in Learning Technology, a fully Open Access journal with effect from 1st January 2012.