8:27am

Mon November 4, 2013
NPR Story

BlackBerry Abandons Plans To Sell Itself, Replaces CEO

Originally published on Mon 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.

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