By Anton D. Nagy | November 5, 2013 2:50 AM
Well, the BlackBerry buyout didn’t happen after all; instead, Fairfax will pay out $250M of BlackBerry’s debt and will secure $750M in similar investments from other parties, which accounts for a total of $1B for BlackBerry. Oh, and there’s also a new CEO: John Chen.
According to a recent Reuters report, the new CEO not only believes in the BlackBerry handset, but has no intention of ditching it. We’ll likely see more BlackBerry-branded phones in the future, as Chen expressed his belief that ”we have enough ingredients to build a long-term sustainable business. I have done this before and seen the same movie before”. To also show some confidence, the executive chairman and interim chief executive officer also said: ”there is a lot to do. There are a lot of challenges or otherwise I would not be interested.”