News bites: Facebook may head to China

Facebook has signed an agreement with the Chinese search engine Baidu to set up a social networking website in China, Bloomberg reports, citing Sohu.com. The original report cited unidentified employees at Baidu. They said the Chinese Facebook would not be integrated into the the company's international service, instead existing as a standalone site. 

Level 3 is buying Global Crossing. Bloomberg reports: "The combination will create a business with fiber-optic networks on three continents, allowing it to provide local, national and international communications services, the companies said."

House Minority Leader Nancy Pelosi (D-Calif.) predicts that the net-neutrality repeal effort will fail, Tech Daily Dose reports. 

An increasing number of magazines are moving toward allowing subscriptions on the iPad despite "icy" relations between Apple and the big magazine houses, The Wall Street Journal reports. 

As Katie Couric prepares to possibly leave CBS, The New York Times looks back at her time there. 

Steve Jobs will cooperate with a biography to be published by Simon & Schuster, The Wall Street Journal reports.