HANGZHOU - The third World Media Summit (WMS) will be held by the New York Times Company in 2014, a presidium meeting of the summit decided here Thursday.

"We are delighted to be engaged in the WMS and believe it is a mission to foster mutual understanding among leading world media organizations," said Arthur Sulzberger, Jr, chairman of the New York Times Company, who attended the summit's 2nd presidium meeting held in Hangzhou, capital of East China's Zhejiang province.

The plenum will be held in September, he said. "We are open to discussions of a theme for next year's plenum, but we are considering 'media without borders'."

Presided over by Li Congjun, Executive President of the WMS and President of Xinhua News Agency, the meeting discussed new media challenges and the feasibility of creating global prizes for journalism.

Co-launched by Xinhua and eight other major media organizations, the summit aims to build a platform for global media to communicate with each other and share knowledge, discuss survival and development, and talk about cooperation and the future.

The first two summits were held by Xinhua in Beijing in 2009 and ITAR-TASS in Moscow in 2012.

Al Jazeera Media Network will hold the fourth summit in 2016.