If you were looking for positive news about BlackBerry’s future, we’d suggest you look away. Canada’s favorite smartphone maker has announced that its $4.7 billion rescue deal with Fairfax has collapsed. Instead, the company has switched to Plan B — raising $1 billion in cash with a debt issue and waving goodbye to current CEO Thorsten Heins . The board is currently looking for a replacement, but in the meantime, John S Chen, former CEO of Sybase, which is now a part of SAP, will take the reins as interim CEO. The only thing we’ve yet to learn is what this means for BlackBerry’s Global Creative Director , but she’s probably preoccupied in the recording studio. Filed under: Cellphones , Mobile , Blackberry Comments Source: The Globe and Mail , Marketwired

More here:
BlackBerry abandons $4.7 billion rescue deal and replaces CEO Thorsten Heins