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30 October 2008

Best Buy Completes Subsequent Offering Period for Napster Shares

 MINNEAPOLIS--(BUSINESS WIRE)--Oct. 30, 2008--Today Best Buy Co., Inc. (NYSE:BBY) successfully concluded the subsequent offering period of the cash tender offer by its wholly-owned subsidiary, Puma Cat Acquisition Corp., to purchase all outstanding shares of common stock of Napster, Inc. (NASDAQ:NAPS). The subsequent offering period followed Best Buy's initial tender offer, in which Best Buy acquired approximately 35.5 million Napster shares (excluding shares tendered by guaranteed delivery but not delivered), or 75.3 percent of all outstanding Napster shares, and which expired on Oct. 24, 2008.

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19 November 2008

Magic Johnson Voices Support for @15

MINNEAPOLIS, November 19, 2008 – Best Buy Co., Inc. (NYSE:BBY) today unveiled a new TSA (“Teen Service Announcement”) featuring basketball legend Earvin “Magic” Johnson at www.at15.com.  Johnson participated in the TSA as an early and passionate supporter of @15, a new teen-led social change platform underwritten by Best Buy to give teens a voice and give them opportunities to direct the company’s philanthropy through the newly-created @15 Fund.
19 November 2008

Renewable Choice Energy Launch First-Of-Its-Kind Product: “GREEN YOUR PHONE”

Boulder, Colo., Nov. 19, 2008 – As the environmental impact of conventional energy production and electricity consumption continues to be a growing concern with Americans, Renewable Choice Energy has developed GREEN YOUR PHONE, a first-of its-kind retail product which enables cell phone users to offset their mobile device's electricity use with wind power. GREEN YOUR PHONE allows sustainability-minded customers to support renewable energy, as the purchase supports the development of wind power projects across the U.S. Best Buy is the first major retailer to debut this product.
12 November 2008

Best Buy Sees Softer Consumer Spending, Lowers Fiscal 2009 EPS Guidance

MINNEAPOLIS, Nov. 12, 2008 – Best Buy Co., Inc. (NYSE: BBY) reported today that falling consumer spending, driven by the recent turmoil in the financial markets and other macro economic factors, has resulted in lower-than-expected revenue for the consumer electronics retailer. The uncertainty regarding future consumer spending has limited the company’s ability to project revenue for the critical holiday shopping season and the balance of the fiscal year. Given both the change in economic environment and the significance of the holiday shopping season to the company’s annual earnings, Best Buy is lowering its guidance for the fiscal year and widening its range for potential revenue and earnings.
11 November 2008

Best Buy® and the National Association of Broadcasters Team Up to Educate Consumers on Digital TV Transition

Minneapolis – November 11, 2008 – Best Buy, in partnership with the National Association of Broadcasters (NAB), will roll out in-store workshops about the transition to digital television (DTV) at Best Buy stores in the 25 largest cities across the country. These workshops will take place on Monday, November 17, 2008, starting at 10 a.m., marking the three-month countdown to the DTV transition.