Facebook will be hosting a live news event this evening at 8pm Eastern (5pm Pacific). While the company has yet to confirm the news, it is widely expected that Facebook will announce its location features.

Facebook has provided us with the embed code for the live video of the event for you viewing pleasure:

Kim-Mai Cutler at InsideFacebook speculates that the launch will be connected with the auto-suggest feature spotted on Facebook today, adding,  "The company has reportedly partnered with location-focused business directory Localeze, the same company that powers conversion of addresses or coordinates into named locations for Twitter. Facebook could use Localeze’s directory to match addresses, and coordinates coming in through the API with businesses that have Facebook Pages."

We’ll find out what’s really going down soon enough. Keep your eyes posted on the video above.