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BlackBerry Abandons Plans To Sell Itself, Replaces CEO

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BlackBerry Abandons Plans To Sell Itself, Replaces CEO

Business

BlackBerry Abandons Plans To Sell Itself, Replaces CEO

BlackBerry Abandons Plans To Sell Itself, Replaces CEO

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  • <iframe src="https://www.npr.org/player/embed/242972380/242979097" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

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.