Newspaper publishing group PCM takes its name from the 1994 merger of the Perscombinatie (which publishes the Volkskrant, Trouw and Parool newspapers) and Meulenhoff & Co (book publisher). In 1995, the Nederlandse Dagblad- unie (publisher of the NRC and Algemeen Dagblad newspapers) was also taken over by PCM. In 2005 British venture capital group Apax took over the publisher but pulled out two years later, leaving the company with debts of some €400m. In 2009 a majority stake in PCM was sold to the Belgian publisher Persgroep.