BlackBerry Abandons Sale Process, CEO Out

11:34 AM, Nov 4, 2013   |    comments
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ROB GILLIES
Associated Press

TORONTO (AP) - BlackBerry is abandoning its sale process, and will replace its chief executive.

Fairfax, BlackBerry's largest shareholder with a 10 percent stake, said Monday it won't buy the entire company but it and other investors will inject $1 billion as part of a revised investment proposal.

BlackBerry says CEO Thorsten Heins is stepping down.

Fairfax head Prem Watsa will be appointed lead director of the board.

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