Princess Cruises is a British-American owned cruise line, based in Santa Clarita, California in the United States and incorporated in Bermuda. Previously a subsidiary of P&O Princess Cruises, the company is now one of ten cruise ship brands owned by Carnival Corporation & plc and accounts for approximately 19% share of its revenue. Being based in America, executive control of Princess Cruises was transferred to Carnival Corp following its acquisition of P&O Princess in 2002. The company was made famous by The Love Boat TV series, in which its ship, Pacific Princess was featured. In May 2013, the brand new Royal Princess became the flagship of Princess Cruises, and in May 2014 was joined by her new sister-ship Regal Princess.