ananyo writes "Mathematicians plan to launch a series of free open-access journals that will host their peer-reviewed articles on the preprint server arXiv. The project was publicly revealed in a blog post by Tim Gowers, a Fields Medal winner and mathematician at the University of Cambridge, UK. The initiative, called the Episciences Project, hopes to show that researchers can organize the peer review and publication of their work at minimal cost, without involving commercial publishers. 'It’s a global vision of how the research community should work: we want to offer an alternative to traditional mathematics journals,' says Jean-Pierre Demailly, a mathematician at the University of Grenoble, France, who is a leader in the effort. Backed by funding from the French government, the initiative may launch as early as April, he says."