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President Obama Named TIME Person of the Year

TIME managing editor Richard Stengel appeared on “Today” this morning to unveil the magazine’s choice for Person of the Year, President Barack Obama.

“He won reelection despite a higher unemployment rate than anybody’s had to face in 70 years, he’s the first Democrat to win two consecutive terms with over 50 percent of the vote, something we haven’t seen since Franklin Delano Roosevelt,” Stengel said. “He’s basically the beneficiary and the author of a kind of new America, a new demographic and a new cultural America, that he’s kind of the symbol of.”

Pakistani student activist Malala Yousafzai was the runner-up, with Apple CEO Tim Cook taking the third spot, Egyptian President Mohamed Morsi at number four and physicist Fabiola Gianotti rounding out the top five. Watch:

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