Apple's device showed that phones could handle much more than email and calls. Fairfax sought partners last year in a $4.7 billion bid to take BlackBerry private, but abandoned the plan after its due diligence showed BlackBerry could not handle the large debt load it would have to take on in such a deal. Download the CTV News app now. Fairfax, which is the largest shareholder in BlackBerry, led an investment group that injected $1 billion into the company last fall. Another $100 million came from Qatar's sovereign wealth fund, $70 million from Virginia-based Markel Corp., $70 million from funds managed by Manulife Financial Corp. (TSX:MFC) and $10 million from Brookfield Asset Management of Toronto (TSX:BAM.A), according to securities filings. The BlackBerry smartphone, pioneered in 1999, had been the dominant mobile device for on-the-go business people and other consumers before Apple introduced the iPhone in 2007.

Fairfax Financial Holdings Ltd. has taken a considerable hit on its investment in BlackBerry Ltd.

Fairfax CEO Prem Watsa sat on the board of BlackBerry until August of 2013. Tracking every case of COVID-19 in Canada, Mary Trump sues U.S. president and his siblings for fraud, calling it the family 'way of life', Too much candy: Man dies from eating bags of black licorice, Feds begin new sitting by boosting COVID-19 recovery benefit, Liberals vow wage-subsidy extension to 2021, revamp of EI system in throne speech, Canadians' grocery bills are increasing; pandemic to accelerate the trend: report, Pattie Lovett-Reid: Survey finds we're saving more during coronavirus, but also worrying more.

puts new restrictions for bars, restaurants, LIVE: Quebec Health Minister update on COVID-19. "We've got enough hedging.


Fairfax Financial has agreed to purchase BlackBerry in a deal worth $4.7 billion that would take the company private once again.

The move, announced Wednesday, comes after BlackBerry (TSX:BB) shares had a strong start to the year, gaining more than 15 per cent since the end of 2013.

Chen has said the company "is very much alive" but is putting more emphasis on Blackberry's software business than its hardware business. Chen, who replaced Thorsten Heins as CEO after the buyout was abandoned, is best known for turning around software maker Sybase in the late 1990s. But we'll maintain those hedges until all of this gets sorted out," he said. Fairfax Financials’ largest three stakes are Atlas Corp., BlackBerry, and Kennedy-Wilson. He discussed everything from the investment landscape, to Canadian competitiveness, to his confidence in BlackBerry.

BlackBerry's employees prepare the launch event for the company's new smartphones in London on Wednesday, Jan. 30, 2013.

Quotes are delayed at least 20 minutes. Fairfax President Paul Rivett told The Associated Press on Wednesday that the investment signals Fairfax's confidence in new chief executive John Chen, who took over in November in a management shake-up that coincided with Fairfax's increased investment. family shocked by $22K penalty for breaking mortgage, U.S. woman arrested, Tasered for refusing to wear mask, Ont.

StreetInsider.com reported that Fairfax Financial Holdings , run by famed investor Prem Watsa, has held talks with BlackBerry's management about acquiring the company outright.

The smartphone maker's share price has tumbled from a Nasdaq high of about $148 in 2008 to a low of just over $5 last year. But Watsa maintains Fairfax is not geared to produce strong profits on a quarter-to-quarter basis, but is focused instead on long-term results.

Fairfax said the additional BlackBerry debt was being bought for investment purposes.

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