From the Editor's Desk: It's November 4th...

Today's the BIG day... Let's see what happens. 

November 4th!
By Kevin Michaluk on 4 Nov 2013 06:20 am
1
loading...
0
loading...
40
loading...

Ok CrackBerry Nation, BlackBerry fans and BlackBerry investors. It's November 4th. It's a day that's been marked on our calendars for weeks. Not for any sort of BlackBerry product launch though which would normally be the kind of date we look forward to around here.

Rather, today is the day we *should* find out a little more about the future of BlackBerry, the company. Will BlackBerry be taken private via the $9/share offer by Fairfax? Has another bidder stepped out to the plate that we will soon learn about? Will something totally unexpected go down? Will nothing happen and things keep truck'n along, status quo? 

We're not sure which way things are going to go, though we are pretty sure that before today ends we will hear *something* from BlackBerry. I don't know what form of communication to expect today. My guess is we'll see a press release cross the wire at some point during the next 10 hours. Maybe there will be a press conference. Maybe interviews will take place. Honestly, I'm not sure.

What I am sure about is that if you keep it locked to CrackBerry, you'll know the second we know. The team is on call until this all shakes out. Once we get word and relay it to the site, we'll fire things up asap for a CrackBerry podcast and live chat so we can talk our way through it. 

Until then, feel free to hangout in the comments, and if you missed this post from last week about what to expect on November 4th, read it!

Read the latest on everything BBRY related

Kevin Michaluk Kevin Michaluk "Founder, Editor in Chief " 3921 (articles) 3285 (forum posts)
86 comments

Siya10

Oh really? :)

Posted via CB10

birdman_38

I predict BlackBerry will remain silent today. We may hear something from them tomorrow.

birdman_38

http://crackberry.com/blackberry-receives-1-billion-investment-fairfax-f...

I take that back! lol. I forgot this company is unpredictable when it comes to its survival.

iwasspartacus

The Globe breaking news says that there is a God. That the CEO is getting turfed. Hopefully the entire CSuite and Board and then the Product Managers, Developer Relations and Q/A.

Hopefully there will still be interest in breaking up the company and finally unlocking some value and divesting of useless strategies like a Porsche phone. Hopefully whatever is left can survive on 1.5% market share for awhile.

Posted via CB10

Mack Gans

Hope FairFax gets the money together.

birdman_38

Just to be clear...if they don't, does BlackBerry need to pay them a breakup fee?

Siya10

I hope: Cerberus & CO make it asap

Posted via CB10

SuperionMaximus

I am kind of leaning in this direction as well. I don't trust Cerberus to want to keep the company together, but if Mike and Doug are in the mix, they will be a voice for restructuring the company rather then stripping it for parts I would think. I don't get Qualcomm's rumored interest other then maybe BlackBerry's stake in the Nortel Patents. Qualcomm tried being a hardware manufacturer in the 90's and it didn't go so well. Maybe they want to give it another go? Or maybe they just want to keep the industry vibrant with many competitors.

PhilipDZ

I really don't expect to hear much. I do not think fiarfax can get the money and I believe we will hear "we are still exploring strategic options"

Posted via CB10

kojita

I think so as well, we might hear Fairfax needs further delays to gather money and we are still exploring strategic alternatives. I doubt that there will be interviews buy as Kevin said press release might be expected.
I have a preference to lazaridis and Co bid. This would ensure that the company y stays in one piece or at least give it better odds to do so.
Basically as Chris said anything could happen from nothing to going private...

Posted via CB10

Siya10

* Fairfax

Posted via CB10

anthonycafiero

Fingers crossed X

#BB4LIFE

Posted via CB10

DOCTOREVIL8

Don't want Fairfax. I much prefer the Mike Lazaridis option. He's the only guarantee not to strip BlackBerry to the ground.

jrohland

I agree. I want his consortium to be the owner. I wouldn't guarantee he will keep the company intact but, he has the greatest chance of maintaining the products as we like them.

CJH_

Don't be so sure. Mike L was jointly responsible for the current position of BlackBerry.

revtech

Gaa . . I'm so sick of hearing this type of comment . . The man is also almost singularly responsible for what you hold in your hand and the existence of the company itself . . People need to separate Mike the tech genius from Mike the manager, he can be involved without running the company.

birdman_38

Mike L should stay retired.

06kingranch

If you think this guy is going to be a silent investor, you're under estimating the huge ego that goes with that huge noggin.

Maybe, he can pull a Steve Jobs but I doubt it, he's so recently separated from the company that he'll see himself as it's savior. It'll be the Mike L. show.

Posted via CB10

darkehawke

But they did far more for the company than this current leadership which is running it into the ground

Posted via CB10

mathking606

Fairfax does not have the money yet but they will continue to look for finance and they plan on bringing Mike L on board.

nick canada

Yup I agree, and if he was smart enough to build the company I think he's smart enough to learn from his mistakes

Posted via CB10

birdman_38

If he's not living high off the hog on the backs of shareholders again and using his own money, one thing is certain...all non moneymaking areas of BlackBerry would be gone.

Flog Gnaw

Thank you. This would be like a second chance for him. He obviously knows what he did before didn't work. He's not an idiot, I don't think.

Posted via CB10

Superfly_FR

Now let the music play ... until the fat lady sings ;)

lotuslanderz

That's not a good thing :(

Posted via CB10

BlackJack-21

Biting my nails.

"My toast is better than yours!"

qwerty4ever

Sorry. I read your comment as "biting my balls" and your signature as "mine taste better than yours". For a moment I thought you trying to neuter yourself as a symbolic gesture of your thoughts about the future of BlackBerry. Oh Monday morning is not a good time to read forums and articles posted on-line.

Puz_zled

Laughing!! Monday morning bleary eyes pre-caffeine lead to all sorts of misunderstandings. Carry on...

Swiped with one thumb from the virtual keyboard of my awesome Z10!

Philipp Noller

I want the creative one

Posted via CB10

nirmalgiri_a

Seems Fairfax is short of generating $4.7 billion. And the trio (BoA, Bank of Montreal and Fairfax) are facing tough time getting the required funds. Wish its Cerberus..

Posted via CB10

Pdoody

Is that a ploy to put in a lower bid?

Posted via CB10

Insync

If investors thought there would be a sale the share price would reflect that methinks.

Posted via CB10

BerryWizard

If we knew, you would know as well don't you think ?

Posted via CB10

jrohland

I'll make a prediction. Time will tell if I'm right or wrong:
The Fairfax deal is off.
The status of the company remains unchanged.

revtech

Yes, and stay tuned for further developments which are "coming soon" . . .

revtech

I think I'd like to see something with Mike involved with Qualcomm and Skulley to manage so Mike can focus on tech . . .

Spades1234

I've always felt the deal was just to hold off and stop the shares from eroding further.

10

canuckbear

Just curious where did all the billionaires go? And when did they get so darn cheap? I've seen more investment during the great depression.

Posted via CB10

7Anthony

Maybe ppl don't feel there is anything to invest in?

H_O_Boomaye

I know 1 thing for sure, if anything were to happen be ready for the absolutely worst spin possible from the media, and social media. Stay strong today blackberry family, stay strong and united. Don't be baited into useless debate.

Posted via CB10

birdman_38

Losing money 5 of the past 7 quarters with an inept senior management team & BOD. To this day, still no effective marketing, in store promotion and salesperson engagement despite our constant pleas. If the company doesn't get sold, all that doesn't change.

Please explain how one can spin that into a positive.

revtech

Yes, I know its a team effort with many interrelated parts, but I really really really don't understand what the marketing guy is doing? I dont want to pick on one guy, but I just can't see how he's earning that kind of salary with nothing/ very little to show for it . . .

vladburac

fingers crossed, abusers!

Posted via CB10

Gearheadaddy

Prepare for the worst, hope for the best...

Trusted Member Genius

birdman_38

Pretty much how you have to go about it with this company. Expect the worst and be pleasantly surprised at times.

revtech

Yup . . . Whatever the future is, I hope Frank B is not part of it . .

bhrgvr

I bet on Qualcomm, Mike and Cer combination... though it will be a bitter fight as to who controls the company after the takeover...

I hope roles are defined right from the start.
Hey but who knows

Posted via CB10

SuperionMaximus

Cerberus will want only to make money no matter what, even if it means splitting up the company. Mike and Doug will want to rejuvenate and restore the company to it's former glory. Qualcomm, if they are actually part of the deal at all, would be interested in gaining control of the BlackBerry stake in the Nortel Patents, plus their encryption patents, and paratek patents. I just can't see Qualcomm wanting to make another go at being a hardware manufacturer when they couldn't pull it off in the 90's and the competition is much more intense now then it was back then.

Georgefly97

Gonna be glued to crackberry today!

Posted via CB10

gdg521

Good luck on the potential outcome...not sure whether to be optimistic or not

Posted via CB10

umarjavaid

Best of luck BlackBerry!

BlackBerry Z10 Posted Via CB

nismorg

someone knows something. Stock is up 5.8% in premarket.

Killjoyhere

BlackBerry, why must you be so bipolar?

Posted via CB10

ganjaman420

I want the team of Frank Boulben and Alicia Keys to win the bidding so that the success BB has now continues. Frank for president

birdman_38

Your comment is dripping with so much sarcasm it needs a towel

revtech

Wow, you are def trying to start something aren't you ;-)

AggreX

My bet is on a Fairfax delay and a competing letter of intent from the triple Laz+Cer+Qua combo.....to be concluded sometime in December. Hope we all get 10.2 and the Z30 real soon.

Posted via CB10

Killjoyhere

All this talk of a sale has alienated a lot of potential customers. The management is after a quick buck and are not interested in growing this company naturally. Developers have embraced BlackBerry 10 only to get shot in the back by the money men.

Posted via CB10

qwerty4ever

The only thing we will hear from BlackBerry is silence. Meanwhile, the media will likely have a field day speculating on the meaning of the silence. Odds are Thorsten Heins will not be making any statements and any announcement will be an unsigned press release after the North American markets close for the trading day.

birdman_38

If Thorsten Heins is still with the corporation, that is.

JimCanuck

Nothing will happen until after stock market close unless there is a suspension of trading during the trading. day.

mjdimer

My vote is nothing will happen.

Posted via CB10

Shadberry Bold

Joint bid with Cerberus and Qualcom

Posted via CB10

naviwilliams

...like some others have already said, I bet we don't hear anything on this till later in the week\next week. Those in the know will probably be told to keep Mum about everything. 

Stewartj1

Still exploring options if we even hear a thing.

Posted via CB10

Jimberry Storm

Bet we hear from anyone else first before BBRY

PaulPaul49

Can't understand why Canadian. Government won't buy in. The UK did for rolls Royce areo. Engines

Posted via CB10

SuperionMaximus

Because the current government has a two part litmus test for products that are important to Canada. Part 1. Is it west of Ontario? Part 2. Can you dig it out of the ground?

BlackBerry fails both parts of the important products to Canada Litmus test so Harper and his goons have no interest in it.

mikr009876

Agree, by now surely there must be people in the know, albeit only a few and they are not talking. I expect news to break after close of the trading day.

strongo

For whatever it is, it's surely "coming soon"...

jic999

I think PW is not working on his $4.7 B takeout, but rather he wants to show the board he can get the financing but wants in on the new Mike Laz consortium for the take private of BlackBerry and PW may have to pay up by breaking the break up fee. !

Posted via CB10

8820man

So much going on for sure, I will stay locked to crackberry all day. I am sure news will come at some point. Forgive the selfishness, but I still want to hear when and how much for the z30 on att. Again, ears peeled for company news as well.

mikr009876

http://www.marketwired.com/press-release/-1847833.htm
November 04, 2013 08:30 ET
BlackBerry Receives Investment of U.S. $1 Billion
from Fairfax Financial and Other Institutional
Investors
John S. Chen to be Appointed Executive Chair of BlackBerry's
Board of Directors and Interim CEO; Prem Watsa to be
Appointed Lead Director
Company Concludes Review of Strategic Alternatives and
Announces Changes to Board and Leadership Team
WATERLOO, ONTARIO and TORONTO, ONTARIO--
(Marketwired - Nov. 4, 2013) - BlackBerry (NASDAQ:BBRY)
(TSX:BB), a world leader in the mobile communications
market, today announced that it has entered into an
agreement pursuant to which Fairfax Financial Holdings
Limited ("Fairfax") and other institutional investors
(collectively, the "Purchasers") will invest in BlackBerry
through a U.S. $1 billion private placement of convertible
debentures. Fairfax has agreed to acquire U.S. $250 million
principal amount of the Debentures. The transaction is
expected to be completed within the next two weeks.
Under the terms of the transaction, the Purchasers will
subscribe for U.S. $1 billion aggregate principal amount of
6% unsecured subordinated convertible debentures (the
"Debentures") convertible into common shares of BlackBerry
at a price of U.S. $10.00 per common share (the
"Transaction"), a 28.7% premium to the closing price of
BlackBerry common shares on November 1, 2013. The
Debentures have a term of seven years. Based on the number
of common shares currently outstanding, if all of the U.S. $1
billion of Debentures were converted, the common shares
issued upon conversion would represent approximately 16%
of the common shares outstanding after giving effect to the
conversion.
Upon the closing of the transaction, John S. Chen will be
appointed Executive Chair of BlackBerry's Board of Directors
and, in that role, will be responsible for the strategic direction,
strategic relationships and organizational goals of BlackBerry.
Prem Watsa, Chairman and CEO of Fairfax, will be appointed
Lead Director and Chair of the Compensation, Nomination and
Governance Committee and Thorsten Heins and David Kerr
intend to resign from the Board at closing.
In addition, Mr. Heins will step down as Chief Executive
Officer at closing and Mr. Chen will serve as Interim Chief
Executive Officer pending completion of a search for a new
Chief Executive Officer.
Today's announcement marks the conclusion of the review of
strategic alternatives previously announced on August 12,
2013.

tayl0rd

Just announced on CNN! BlackBerry rejected the Fairfax deal and is going to try to raise money on its own to "stay in business."

mattc127

No comment on this post. But does by one know how to get the calender black like the picture??

Posted via CB10

DickStarrbuck

I was wondering the same.....did you find it?

DickStarrbuck

This is a great post. But can someone tell me how to make my calendar look like the one in the picture please. I want/need that calendar. Is it just a theme, or a whole different calendar app? Please and thank you :)