Bloomberg News team wins prize for Asia coverage

The Asia Society announced Tuesday that a team from Bloomberg News has won the 2013 Osborn Elliott Prize for Excellence in Journalism on Asia.

The $10,000 cash award, known as the Oz prize, will be presented at a public program and discussion on May 23, at 6 p.m., at Asia Society in New York.

The winning entry, a series of investigative stories titled “Revolution to Riches,” exposed the vast wealth accumulated by the families of some of China’s leaders, and documented the interlocking business interests of the country’s elite or “princeling” class.

The independent jury that oversees the prize selection called the Bloomberg News reporting “historic, exceptional, and insightful.” They noted that Bloomberg “beat the pack and led the story” which they called “gripping” and “fascinating.”

“Congratulations to Bloomberg News for winning in a very competitive field,” said Asia Society Executive Vice President Tom Nagorski in a statement. “This year marks the tenth year since the inception of the Oz prize. Since that time, the news industry has undergone unimaginable changes. This year’s honorees demonstrate that outstanding reporting on Asia continues to thrive.”

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