-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, M9Q47cuIZcV6tZSwX70KGzTOJQ28tIn/vUMsvaqDuZDGAjSuUuzFFBlSZdtYGpdm mhmAuOzzKDBLf2mkXiPA7A== 0000912057-99-010183.txt : 19991222 0000912057-99-010183.hdr.sgml : 19991222 ACCESSION NUMBER: 0000912057-99-010183 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19991216 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19991221 FILER: COMPANY DATA: COMPANY CONFORMED NAME: BEST BUY CO INC CENTRAL INDEX KEY: 0000764478 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-RADIO TV & CONSUMER ELECTRONICS STORES [5731] IRS NUMBER: 410907483 STATE OF INCORPORATION: MN FISCAL YEAR END: 0301 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-09595 FILM NUMBER: 99778457 BUSINESS ADDRESS: STREET 1: 7075 FLYING CLOUD DR CITY: EDIN PRARIE STATE: MN ZIP: 55344 BUSINESS PHONE: 6129472000 MAIL ADDRESS: STREET 1: P O BOX 9312 CITY: MINNEAPOLIS STATE: MN ZIP: 55440-9312 FORMER COMPANY: FORMER CONFORMED NAME: BEST BUYS CO INC DATE OF NAME CHANGE: 19900809 8-K 1 FORM 8-K SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934 Date of Report (Date of earliest event reported) DECEMBER 16, 1999 BEST BUY CO., INC. (Exact name of registrant as specified in its charter) MINNESOTA (State or other jurisdiction of incorporation) 1-9595 41-0907483 (Commission File Number) (IRS Employer Identification Number) 7075 FLYING CLOUD DRIVE 55344 EDEN PRAIRIE, MINNESOTA (Zip Code) (Address of principal executive offices) Registrant's telephone number, including area code: 612/947-2000 NOT APPLICABLE (Former name or former address, if changed since last report) ITEM 5. OTHER EVENTS. On December 16, 1999, Best Buy Co., Inc. and Microsoft Corporation announced their plans for a comprehensive strategic alliance that encompasses broadband, narrowband, in-store and online efforts. The parties signed a letter of intent that provides for significant joint marketing in Best Buy's retail stores, online and through print/broadcast vehicles, profit sharing, the promotion of Best Buy.com (a wholly owned subsidiary of Best Buy Co., Inc.) to the 40 million users throughout Microsoft Corporation's properties, and technology assistance. ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS. c) Exhibits The following is filed as an Exhibit to this Report.
Exhibit No. Description of Exhibit ----------- ---------------------- 99 Press Release issued December 16, 1999
SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. BEST BUY CO., INC. (Registrant) Date: December 20, 1999 By: /s/ Allen U. Lenzmeier ----------------------------------- Name: Allen U. Lenzmeier Title: Executive Vice President and Chief Financial Officer EX-99 2 EXHIBIT 99 PRESS RELEASE Exhibit 99 FOR IMMEDIATE RELEASE BEST BUY & MICROSOFT AGREE TO FORM COMPREHENSIVE STRATEGIC ALLIANCE NATION'S LARGEST HOME PC RETAILER AND WORLDWIDE SOFTWARE LEADER TO JOIN FORCES REDMOND, Wash., Dec. 16, 1999 -- Best Buy Co., Inc. (NYSE: BBY) and Microsoft Corp. (Nasdaq: MSFT) today announced their plans for a comprehensive strategic alliance that encompasses broadband, narrowband, in-store and online efforts. The parties signed a letter of intent that provides for significant joint marketing in Best Buy's retail stores, online and through print/broadcast vehicles, profit sharing, the promotion of BestBuy.com to the 40 million users throughout Microsoft's properties, and technology assistance. Under this alliance, MSN(TM) Internet access and Microsoft's full range of connectivity solutions will be demonstrated and sold at the more than 350 Best Buy stores in the U.S. and through BestBuy.com. In addition, Microsoft plans to invest $200 million in Best Buy common stock. "This alliance positions Best Buy as the preferred click and mortar provider of entertainment and technology products and services to US consumers," said Best Buy Chairman & CEO Richard M. Schulze. "Best Buy annually serves over 200 million customers and sells more than 12.5 million connected devices. A deciding factor in forming this alliance is Microsoft's 'Everyday Web' vision, making the web as prevalent as the telephone and even more useful in our customers' daily lives. Together, we create a strong team fostering our mission of improving people's lives by making technology affordable and easy to use." The alliance will combine two of the most recognized consumer brands and link the worldwide leader in software for personal and business computing with the nation's largest digital technology retailer. The companies will utilize their complementary sales and distribution channels to co-market their products and services. The alliance will also affirm broader efforts by Microsoft to expand distribution channels to grow subscribers. - MORE - PAGE 2 - BEST BUY & MICROSOFT FORM ALLIANCE- 12/16/99 Bill Gates, chairman & CEO of Microsoft, stated that, "At Microsoft, we're designing products and services that empower our customers through great software -- any time, any place and on any device. Best Buy's vision as the provider of products and services at the intersection of technology and life fits extremely well with our 'Everyday Web' strategy. As the largest retailer of PCs to the home user, their ability to sign up more than half a million subscribers in five months through in-store instant rebates illustrates the power of the Best Buy brand." As part of the alliance, Best Buy and BestBuy.com will receive prominent and preferred placement across Microsoft properties, including MSNBC, the Expedia.com(TM) travel service, Hotmail(TM) Web-based e-mail service, WebTV Network(TM), and the newly launched MSN eShop online shopping service. As a major advertiser on the MSN network of Internet services, BestBuy.com will reach a broad Internet audience. Microsoft's strength in audio and video streaming technology will enhance the Best Buy customer experience online. With this alliance, Microsoft and Best Buy will be well positioned to provide the tools to help millions of consumers get connected and get the most out of the Internet to make the "Everyday Web" a reality. Statements made in this news release, other than those concerning historical financial information, should be considered forward looking and subject to various risks and uncertainties. Such forward-looking statements are based on the respective managements' beliefs and assumptions regarding information currently available, and are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Each company's actual results could differ materially from those expressed in the forward-looking statements. Factors that could cause results to vary include, among others, those identified in the respective companies' filings with the Securities and Exchange Commission. Neither company has any obligation to publicly update or revise any of the forward-looking statements that may be in this news release. - MORE - PAGE 3 - BEST BUY & MICROSOFT FORM ALLIANCE- 12/16/99 About Best Buy Best Buy is the nation's largest volume retailer of consumer electronics, computers, entertainment software and appliances. The company operates 354 stores in 37 states and retails CDs, DVD movies and Best Buy Gift Cards online at www.BestBuy.com. About Microsoft Founded in 1975, Microsoft is the worldwide leader in software for personal and business computing. The company offers a wide range of products and services designed to empower people through great software any time, any place and on any device. NOTE: Microsoft, MSN, Hotmail and Web TV Network are either registered trademarks or trademarks of Microsoft Corp. in the United States and/or other countries. Expedia and Expedia.com are either registered trademarks or trademarks of Expedia Inc. in the U.S. and/or other countries. Other product and company names herein may be trademarks of their respective owners. NOTE TO EDITORS: If you are interested in viewing additional information on Best Buy, please visit the Best Buy website at http://www.bestbuy.com. If you are interested in viewing additional information on Microsoft, please visit the Microsoft Web page at http://www.microsoft.com/presspass/ on Microsoft's corporate information pages. CONTACT: Colleen Lacter of Waggener Edstrom, 503-443-7000, or colleenl@wagged.com, for Microsoft Corp.; or Laurie Bauer, 612-947-2450, or laurie.bauer@bestbuy.com, or Susan Hoff, 888-661-3787, both of Best Buy Co., Inc. -----END PRIVACY-ENHANCED MESSAGE-----