The Future of Literary Journals and Presses?

Nearly seventy-five years later, Southern Review remains one of the most important quarterlies in the country, and LSU Press has earned a reputation as one of the nation's most revered university presses. In the last three decades alone, LSU Press's literary titles have garnered four Pulitzer Prizes, a National Book Award, and a National Book Critics Circle Award, and its exceptional history list has won three Bancroft Prizes and the Lincoln Prize. Yet, LSU's new chancellor, Michael Martin, has targeted both Southern Review and LSU Press as entities within the university that, due to the economic downturn, will now need to contribute additional revenue to the university--or else. According to the preliminary budget report issued by the university, "it is very possible they cannot generate the revenue needed and will close." In a prepared statement released after the budget was made public earlier this week, Martin praised LSU's nationally recognized publications as "a very valuable asset to this university" but insisted that "we must protect the academic core of LSU first and foremost."

From VQR. You should read this.