Media playback is unsupported on your device

Blackberry in $4.7bn takeover deal with Fairfax

24 September 2013 Last updated at 11:30 BST

The Canadian smartphone company, Blackberry, says it has agreed in principle to be bought by a consortium led by its largest shareholder, Fairfax Financial.

The consortium is bidding to buy the business for $4.7bn (£3bn).

On Friday, Blackberry said it was cutting 4,500 jobs worldwide in a bid to stem losses.

Samira Hussain reports from New York.

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.