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'Time' Names Obama 'Person Of The Year'

U.S. President Barack Obama
The U.S. magazine "Time" has named President Barack Obama as its 2012 Person of the Year.

Obama beat out rivals such as Malala Yousafzai, a 15-year-old Pakistani rights activist critically injured by the Taliban, and Egypt's Islamist President Muhammad Morsi.

Other finalists were Bill and Hillary Clinton; Marissa Mayer, the chief of Internet giant Yahoo; and Tim Cook of Apple.

"Time" praised Obama for "finding and forging a new majority, for turning weakness into opportunity, and for seeking, amid great adversity, to create a more perfect union."

The news magazine also chose Obama as Person of the Year in 2008, when he won his first presidential mandate.

The magazine recognizes the personality that most influenced world affairs during the year.

Instead of a specific person, last year's winner was "The Protester."

With reporting by dpa
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