MIT leaders describe the experience of not renewing its largest journal contract with Elsevier as overwhelmingly positive, resulting in annual savings of over $2 million. The decision was made after the university developed a new framework with value-based principles for institutional contract negotiations with publishers. The Libraries provided alternative means of access to articles, including interlibrary borrowing and a service called Article Galaxy, which offers per-article access. This move has been relatively seamless, with minimal pushback from researchers.