BlackBerry Abandons Plans To Sell Itself, Replaces CEO

Nov 4, 2013
Originally published on November 4, 2013 10:39 am

A few weeks ago, the smartphone maker announced it had signed a letter of intent to sell the company valued at $4.7 billion to Fairfax Financial Holdings. Instead, in a statement released Monday, BlackBerry announced it will receive a $1 billion investment from Fairfax Financial and others. BlackBerry CEO Thorsten Heins will step down and be replaced by interim CEO John Chen.