It's not so much as they aren't an established company it's that that their business model has been broken/bypassed by technology. They've been reduced to being a middle-man that obstructs value rather than providing it.
The only part of biz model left is "prestige" (very fickle), "customer lock in / inertia" (which is already going away re: OA), and lobbying government to prop up/expand their monopoly (ever extending/expanding copyrights, which is the one thing that doesn't seem they will ever lose on cause ever other bypassed dinosaur broke ass business model publisher spends tons on it).
I disagree. It seems like you only know Elsevier as a publisher of journals, but that's only about 1/3 of their overall business. They (RELX) provide a lot of useful services to companies and governments.
About half their revenue and profits come from Risk and Legal services, which are not things you hear about in the news. They offer services for police, airlines, legal firms, insurance companies, accounting firms Hell, they have an analytics tool for agricultural businesses. They also have enough money to throw around in these spaces to prevent any startups from getting large enough to be a threat.
Tends to be ignored but the process of extracting a profit has costs. Both internal costs and external costs. Sometimes the external costs imposed exceed the profit extracted by a large amount.
The only part of biz model left is "prestige" (very fickle), "customer lock in / inertia" (which is already going away re: OA), and lobbying government to prop up/expand their monopoly (ever extending/expanding copyrights, which is the one thing that doesn't seem they will ever lose on cause ever other bypassed dinosaur broke ass business model publisher spends tons on it).