10/10/2014 05:05 EDT | Updated 12/09/2014 05:59 EST

Nobel Peace Prize: Malala Yousafzai, Kailash Satyarthi win 2014 award

Children's rights activisits Malala Yousafzai of Pakistan and Kailash Satyarthi of India are the 2014 winners of the Nobel Peace Prize.

The announcement was made Friday in Oslo by ThorbjørnJagland, chairman of the Norwegian Nobel Committee.

The two shared the prize for "their struggle against the suppression of children and young people and for the right of all children to education," the committee said.

The Nobel committee said it "regards it as an important point for a Hindu and a Muslim, an Indian and a Pakistani, to join in a common struggle for education and against extremism."

The winners were selected from a list of 278 nominees, the highest number of candidates ever. The list included 47 organizations, the Nobel committee said. The previous record was 259 in 2013.

More to come