Penguin Books is now an imprint of the worldwide Penguin Random House, an emerging conglomerate which was formed in 2013 by the merger with American publisher Random House, a subsidiary of German media conglomerate Bertelsmann. Formerly, Penguin Group was wholly owned by British Pearson plc, the global media company which also owned the "Financial Times". When Penguin Random House was formed, Pearson had a 47% stake in the new company, which was reduced to 25% in July 2017. Since April 2020, Penguin Random House has been a wholly owned subsidiary of Bertelsmann. It is one of the largest English-language publishers, formerly known as the "Big Six", now the "Big Five", along with Holtzbrinck/Macmillan, Hachette, HarperCollins, and Simon & Schuster.