I think it's also worthwhile to recognize that librarians have been trying to sound the alarm on this problem for at least a decade. In 2001, Kenneth Frazier, Director of Libraries at UW-Madison, wrote an article in D-Lib Magazine where he named such journal packages the "Big Deal" and urged library administrators not to buy them.

http://www.dlib.org/dlib/march01/frazier/03frazier.html