World media leaders meet to discuss challenges

Leaders from the world's most renowned media organizations on Thursday met in Hangzhou, capital of east China's Zhejiang Province, to discuss the challenges new media faces.

Executive President of the World Media Summit (WMS) and President of the Xinhua News Agency Li Congjun presided over the 2nd presidium meeting of the summit and delivered a key-note speech.

Leaders from Xinhua News Agency, News Corporation, The Associated Press (AP), Reuters, ITAR-TASS News Agency, Kyodo News, British Broadcasting Corporation (BBC), Turner Broadcasting System Inc., Google, AL Jazeera Media Network, The New York Times Company, NBC News, MIH Group, Kasturi&Sons Limited are at the meeting.

Leaders have agreed that the WMS will create global prizes for journalism to recognize outstanding journalists around the world.

The meeting also decided that The New York Times will host the third WMS in 2014, while Al Jazeera will host the fourth summit in 2016.

The first WMS, held in 2009, was co-launched by Xinhua and eight other media organizations including News Corporation, AP, Thomson Reuters, ITAR-TASS, Kyodo News, BBC, Turner Broadcasting System Inc and Google Inc.

The second summit was held in Moscow last year.