Scholarly publishing is concerned with the distribution of scholarly information through journals and conferences and other information media. As such scholarly publishing can be understood as a specific part of the information industry. With the advent of advanced information technologies many possible technologically enabled futures have been posited for scholarly publishing. This paper describes the current systems, processes and actors. While technological advancements appear to be enabling access to scholarly publications, economic conditions appear to limit access. In addition, a number of alternatives, such as open access are currently in play and there is uncertainty regarding the future of the scholarly publishing system. The system appears to be in the process of being reassembled. Conceptual models of the traditional, the electronic, and some possibilities for future developments in scholarly publishing are proposed, as are topics for future research in the information systems domain.