I don't know. All the real power is in the hand of the academics. For example, Don Knuth managed to persuade the editorial board of the Elsevier Journal of Algorithms to resign, and they started the ACM Transactions on Algorithms with a different, lower-priced, not-for-profit publisher instead, and (if I understand correctly) take along the prestige. The Journal of Algorithms folded a few years later.

Why oh why don't more editorial boards do this????