BlackBerry won’t sell itself; CEO is out

Molly Wood Nov 4, 2013
HTML EMBED:
COPY

BlackBerry won’t sell itself; CEO is out

Molly Wood Nov 4, 2013
HTML EMBED:
COPY

In the age of Android and iPhone dominance, not too many people are interested in buying a BlackBerry anymore. The same could be said for the Canadian company that manufactures the device. On Monday, the smart phone maker announced it would abandon a bid to be taken over by a private group of investors, and that CEO Thorsten Heins will step down. Fairfax Financial Holdings, BlackBerry’s largest shareholder, and a group of private investors will give the company a $1 billion cash influx to reorganize. Marketplace Reporter Sabri Ben-Achour has the latest on the news.

As a nonprofit news organization, our future depends on listeners like you who believe in the power of public service journalism.

Your investment in Marketplace helps us remain paywall-free and ensures everyone has access to trustworthy, unbiased news and information, regardless of their ability to pay.

Donate today — in any amount — to become a Marketplace Investor. Now more than ever, your commitment makes a difference.