19 December 2012 8:26 AM, PST | Access Hollywood | See recent Access Hollywood news »

President Barack Obama has been named Time magazine's "Person of the Year" for 2012.

"We are in the midst of historic cultural and demographic changes, and Obama is both the symbol and in some ways the architect of this new America," Time Editor Rick Stengel told NBC's "Today" show, where he announced the selection on Wednesday.

The short list for the honor included Malala Yousafzai, the Pakistani teenager who was shot in the head for advocating for girls' education, as well as Egyptian president Mohamed Morsi, Apple CEO Tim Cook and Italian physicist Fabiola Giannati.

Obama also ...

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