Facebook Buys Instagram For $1 Billion

Mark Zuckerberg announced that his Facebook social network has purchased start-up photo-sharing Web site Instagram for $1 billion dollars. Facebook will instantly put a stop to whatever innovative thinking made Instagram a success "as per our usual business model", Zuckerberg said.

Journalist Mike Wallace Dies

Veteran broadcast journalist Mike Wallace, who spent 43 years with the CBS news magazine "60 Minutes", has died at age 93.