There is a rumor circulating that Facebook is making a change
related to ownership of users' information or the content they post
to the site. This is false. Anyone who uses Facebook owns and
controls the content and information they post, as stated in our
terms. They control how that content and information is shared. That
is our policy, and it always has been. Click here to learn more -
http://www.facebook.com/policies/ .

Similarly, ABC News reported:

[Users worried that] Facebook will own their photos or other media
are posting [a frightful message] — unaware that it is a hoax.
Here's the truth: Facebook doesn't own your media.

"We have noticed some statements that suggest otherwise and we
wanted to take a moment to remind you of the facts -- when you post
things like photos to Facebook, we do not own them," Facebook
spokesman Andrew Noyes said in a statement. "Under our,
https://www.facebook.com/legal/terms/ , terms you grant Facebook
permission to use, distribute, and share the things you post,
subject to the terms and applicable privacy settings."

Brad Shear, a Washington-area attorney and blogger who is an expert
on social media, said the message [that Facebook users are posting
to their walls is] "misleading and not true." He said that when you
agree to Facebook's terms of use you provide Facebook a
"non-exclusive, transferable, royalty-free, worldwide license to use
any content you post. You do not need to make any declarations about
copyright issues since the law already protects you. The privacy
declaration [in this message] is worthless and does not mean anything."

As /techtalk/ noted of Facebook users' current privacy rights:

The fact is that Facebook members own the intellectual property (IP)
that is uploaded to the social network, but depending on their
privacy and applications settings, users grant the social network "a
non-exclusive, transferable, sub-licensable, royalty-free, worldwide
license to use any IP content that you post on or in connection with
Facebook (IP License)."

Facebook adds, "[t]his IP License ends when you delete your IP
content or your account unless your content has been shared with
others, and they have not deleted it."

While the social network does not technically own its members
content, it has the right to use anything that is not protected with
Facebook's privacy and applications settings. For instance, photos,
videos and status updates set to public are fair game.