By ROB GILLIES
Associated Press
TORONTO – BlackBerry abandoned its sale process today, and announced it will replace its chief executive.
Fairfax, BlackBerry’s largest shareholder with a 10 percent stake, said it won’t buy the struggling smartphone company and take it private but said it and other investors will inject $1 billion as part of a revised investment proposal.
BlackBerry says CEO Thorsten Heins is stepping down. Heins took over in early 2012 after the company lost billions in market value.