Scholarly publishing is the information marketplace in which academic libraries function, and major shifts in traditional publishing and pricing models are in process. Library consortia have long been viewed as a means of increasing purchasing power and reducing costs. In late 2010, the Five College Libraries (FCL) hired R2 Consulting, LLC to investigate and make recommendations regarding how the Libraries cooperate more closely on the acquisition, management, and delivery of electronic resources. This study examines and evaluates how other academic library consortia are licensing and acquiring electronic books, databases, journals and streaming media. The organizations, activities, processes, history and trends of e-resource acquisitions and collection development at the Colorado Alliance of Research Libraries (CARL), Orbis Cascade Alliance (OCA), Triangle Research Libraries Network (TRLN) and Washington Research Library Consortium (WRLC) are presented with data collected by the author. Additional context is provided through a literature review, and a discussion of current practices provides a sampling of the new directions academic library consortia are taking and the challenges they face.