The American weekly news magazine, TIME, has named U.S. President Barack Obama as 2012 Person of the Year. This is the second time Obama has received this honor, the first coming in 2008, right after his initial presidential election. TIME, which is owned by Time Warner, has the world's largest circulation for a weekly news magazine; its readership exceeds 25 million, 20 million of which are in the U.S., when amassing the audiences of TIME Europe and TIME Asia.

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