Blackberry in $4.7bn takeover deal with Fairfax

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.