Follow Facebook's Announcement LIVE: Updates From Facebook's Press Conference

UPDATE: See what Facebook unveiled at its announcement here.
Starting at approximately 10AM PT, Larry Magid will be live-blogging Facebook's Wednesday press conference from the company's headquarters.

There has been speculation that Facebook is set to announce a redesign of its site. Follow the live blog below for more information. CNET will also be live-blogging the event and Facebook will be broadcasting the announcement on its Facebook Live page.