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.

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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.