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Journalists Maria Ressa and Dmitry Muratov won the Nobel Peace Prize on Friday, ABC News reported.

The Norwegian Nobel Committee, which is responsible for selecting the Nobel Peace Prize recipients each year, decided to award this year's prize to both Ressa, of the Philippines, and Muratov, of Russia, "for their efforts to safeguard freedom of expression, which is a precondition for democracy and lasting peace."

Along with the notoriety and a gold medal, they will receive a cash award of 10 million Swedish krona, or about $1.14 million.

The Norwegian Nobel Committee praised Ressa and Muratov for being "representatives of all journalists who stand up for this ideal in a world in which democracy and freedom of the press face increasingly adverse conditions."

"Maria Ressa uses freedom of expression to expose abuse of power, use of violence and growing authoritarianism in her native country, the Philippines," the committee said in a statement Friday. "Dmitry Muratov has for decades defended freedom of speech in Russia under increasingly challenging conditions."

Peace was the fifth and final prize category that Swedish inventor and scholar Alfred Nobel mentioned in his last will and testament. He left most of his fortune to be dedicated to the series of awards, the Nobel Prizes.