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Billy Collins and Samuel Menashe Win Major New Prizes for American Poets [US]:
Chicago, IL, October 6th — The Poetry Foundation announced that Samuel Menashe and former U.S. Poet Laureate Billy Collins are the winners of its first Pegasus Awards. The announcement was made at a dinner ceremony last night on the new Pritzker Stage at Millennium Park in Chicago. The prizes honor achievements not already acknowledged by other awards.

The Neglected Masters Award of $50,000 was presented to Samuel Menashe of New York City. Designed to bring renewed critical attention to the work of an under-recognized, significant American Poet, the Award includes publication of a volume of Menashe’s selected poems by the Library of America. [...]

Billy Collins received the “Mark Twain Poetry Award” of $25,000, recognizing a poet’s contribution to humor in American poetry. [...]

Both prizes are given for a lifetime’s work. No applications or unsolicited nominations are accepted. The Poetry Foundation believes that targeted prizes can help redress underappreciated accomplishments, diversify the kinds of poetry being written, as well as widen the audience for the art form. With this in mind it intends to create additional prizes in the years ahead.
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