Most likely not, at least not directly. CACM and arXiv do not in any way compete. However, arXiv has done a lot for open access publishing, so perhaps it would

Most likely not, at least not directly. CACM and arXiv do not in any way compete. However, arXiv has done a lot for open access publishing, so perhaps it wouldn't have happened (this early) had it not been for arXiv.