Here's the report at the Guardian UK, "Duchess of Cambridge gives birth to baby boy, third in line to the throne."
And check the live feed, "Royal baby: Duchess of Cambridge gives birth to a boy – live coverage."
The baby's name might not be known for some time, since it needs to be something kingly, like "James" or "Richard," and the name can't be currently taken by someone near the top of the succession hierarchy, or something. The New York Times has a nifty chart, "The Royal Line of Succession."
And back over to an interesting article from 2012, at the Guardian, "Charles in waiting: 63-year-old pays tribute to Queen – and his own destiny?"
Could the crown bypass Charles to William? The Guardian piece says it won't happen, but certainly if the law can be changed to allow for a female heir to the throne, no doubt tradition can bend to bring William's youth and vigor to the monarchy. It's pretty interesting, in any case.