Prior to 1989, the major accounting firms were nicknamed "The Big Eight." But in 1989 four of the firms merged (Ernst & Whinney merged with Arthur Young to form Ernst & Young and Deloitte, Haskins & Sells merged with Touche Ross to form Deloitte & Touche). In 1998, the Big Six became the Big Five when Coopers & Lybrand merged with Price Waterhouse to form PricewaterhouseCoopers.