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  <h1 align="center" style="border:none;font-weight:bold;margin:0in 0in .0001pt;padding:0in;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>
  
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  <h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">UNITED STATES<br>
  SECURITIES AND EXCHANGE COMMISSION</font></b></h1>
  
  <h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Washington, D.C.&nbsp; 20549</font></b></h1>
  
  <h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>
  
  <h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;">FORM&nbsp;8-K</font></b></h1>
  
  <h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>
  
  <h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;">CURRENT REPORT</font></b></h1>
  
  <h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></b></h1>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">Pursuant to Section&nbsp;13 OR 15(d)&nbsp;of
  The Securities Exchange Act of 1934</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date of Report (Date of earliest event reported) <b>May&nbsp;7, 2008</b></font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman"><img width="137" height="120" src="g138801bai001.gif"></font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">BEST BUY CO., INC.</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Exact name of registrant as specified in its charter)</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
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    <h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">Minnesota</font></b></h1>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <h1 style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></h1>
    </td>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">1-9595</font></b></h1>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <h1 style="font-weight:bold;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></b></h1>
    </td>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">41-0907483</font></b></h1>
    </td>
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    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or other
    jurisdiction</font></p>
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">of incorporation)</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Commission</font></p>
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">File Number)</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(IRS Employer</font></p>
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Identification No.)</font></p>
    </td>
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  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
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    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">7601 Penn Avenue South</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
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    <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Richfield, Minnesota</font></b></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">55423</font></b></p>
    </td>
   </tr>
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    <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of principal executive offices)</font></p>
    </td>
    <td width="2%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:2.0%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="49%" valign="top" style="padding:0in .7pt 0in .7pt;width:49.0%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Zip Code)</font></p>
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  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Registrant&#146;s telephone number, including area code <b>(612) 291-1000</b></font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <h1 align="center" style="font-weight:bold;margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;">N/A</font></b></h1>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Former name or former address, if changed since last report.)</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check the appropriate box
  below if the Form&nbsp;8-K filing is intended to simultaneously satisfy the
  filing obligation of the registrant under any of the following provisions:</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="2" style="font-size:10.0pt;"> Written communications pursuant to Rule&nbsp;425
  under the Securities Act (17 CFR 230.425)</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="2" style="font-size:10.0pt;"> Soliciting material pursuant to Rule&nbsp;14a-12
  under the Exchange Act (17 CFR 240.14a-12)</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="2" style="font-size:10.0pt;"> Pre-commencement communications pursuant to Rule&nbsp;14d-2(b)&nbsp;under
  the Exchange Act (17 CFR 240.14d-2(b))</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font><font size="2" style="font-size:10.0pt;"> Pre-commencement communications pursuant to Rule&nbsp;13e-4(c)&nbsp;under
  the Exchange Act (17 CFR 240.13e-4(c))</font></p>
  
  <div style="border:none;border-bottom:double windowtext 6.0pt;padding:0in 0in 0in 0in;">
  
  <p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  </div>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='',FILE='C:\JMS\brosent\08-13880-1\task2922923\13880-1-ba.htm',USER='brosent',CD='May  7 22:16 2008' -->
  
  
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  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ITEM&nbsp;1.01</font></b><font size="2" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;">ENTRY INTO A MATERIAL DEFINITIVE
  AGREEMENT </font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On May&nbsp;8, 2008, Best
  Buy Co.,&nbsp;Inc. (&#147;Best Buy&#148; or &#147;the registrant&#148;) and The Carphone Warehouse
  Group PLC (&#147;The Carphone Warehouse&#148;) issued a joint press release announcing
  that they have signed a definitive agreement under which The Carphone Warehouse
  and Best Buy will create a new venture comprised of The Carphone Warehouse&#146;s
  existing retail business and The Carphone Warehouse&#146;s share of its existing
  relationships with Best Buy.&#160; Best Buy
  plans to acquire a 50% stake in the new company for cash consideration of &#163;1.1
  billion, or $2.1 billion.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The transaction is
  conditional on the passing of an ordinary resolution approving the transaction
  by The Carphone Warehouse shareholders at its extraordinary general meeting, which
  is expected to take place by early August&nbsp;2008.&#160; It is also conditional on receipt of approval
  of the change in corporate controller from the Financial Services Authority in
  the United Kingdom, and on The Carphone Warehouse completing the reorganization
  of its corporate structure to create a new holding company for its retail
  assets, as well as other customary conditions.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The transaction is
  expected to close during the registrant&#146;s fiscal second quarter, which
  concludes on August&nbsp;30, 2008.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A copy of the sale and
  purchase agreement will be filed with an amendment to this Current Report on Form&nbsp;8-K.</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ITEM&nbsp;7.01</font></b><font size="2" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;">REGULATION FD DISCLOSURE </font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On May&nbsp;8, 2008,
  representatives of Best Buy and The Carphone Warehouse will hold an investor
  presentation which will be webcast to discuss the new venture. The registrant
  is furnishing the slide presentation, which it will use at its teleconference
  and webcast on May&nbsp;8, 2008, and which it may use from time to time in
  presentations related to the transaction. The slides are furnished pursuant to
  Item&nbsp;7.01 of Form&nbsp;8-K and shall not be deemed to be &#147;filed&#148; for the
  purposes of Section&nbsp;18 of the Securities Exchange Act of 1934 or otherwise
  subject to the liabilities of that Section, unless the registrant specifically
  incorporates them by reference in a document filed under the Securities Act of
  1933 or the Securities Exchange Act of 1934. By filing this Form&nbsp;8-K and
  furnishing this information, the registrant makes no admission as to the
  materiality of the information included in the slides. The registrant
  undertakes no duty or obligation to publicly update or revise the information
  included in the slides, although it may do so from time to time as the
  registrant&#146;s management believes is warranted. Any such updating may be made through
  the filing of other reports or documents with the Securities and Exchange
  Commission, through press releases or through other public disclosure. The
  registrant will make copies of the slides available for viewing at the &#147;For Our
  Investors&#148; section of its website located at <i>www.BestBuy.com
  </i>, although Best Buy reserves the right to discontinue that
  availability at any time.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Some of the matters
  discussed in this Form&nbsp;8-K (including Exhibits 99.1 and 99.2) may
  constitute forward-looking statements within the meaning of the &#147;safe harbor&#148;
  provisions of the Private Securities Litigation Reform Act of 1995. These
  forward-looking statements include statements other than those made solely with
  respect to historical fact and are based on the intent, belief or current
  expectations of the registrant and its management.&#160; The registrant&#146;s business and operations are
  subject to a variety of risks and uncertainties that might cause actual results
  to differ materially from those projected by any forward-looking statements.
  Factors that could cause such differences include, but are not limited to,
  those factors set forth in the press release attached hereto as Exhibit&nbsp;99.1
  and the risk factors set forth in the registrant&#146;s filings with the Securities
  and Exchange Commission.</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='2',FILE='C:\JMS\brosent\08-13880-1\task2922923\13880-1-ba.htm',USER='brosent',CD='May  7 22:16 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div style="font-family:Times New Roman;">
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">ITEM&nbsp;9.01</font></b><font size="2" style="font-size:10.0pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><b><font size="2" style="font-size:10.0pt;font-weight:bold;">EXHIBITS </font></b></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)&nbsp;<i>Exhibits</i></font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="6%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:6.44%;">
    <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Number</font></b></p>
    </td>
    <td width="3%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:3.42%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
    </td>
    <td width="90%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:90.14%;">
    <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Description</font></b></p>
    </td>
   </tr>
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    <td width="6%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:6.44%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.1</font></p>
    </td>
    <td width="3%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:3.42%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="90%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:90.14%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Press release issued
    jointly by Best Buy Co.,&nbsp;Inc. and The Carphone Warehouse Group PLC dated
    May&nbsp;8, 2008</font></p>
    </td>
   </tr>
   <tr>
    <td width="6%" valign="top" style="padding:0in .7pt 0in .7pt;width:6.44%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.2</font></p>
    </td>
    <td width="3%" valign="bottom" style="padding:0in .7pt 0in .7pt;width:3.42%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="90%" valign="top" style="padding:0in .7pt 0in .7pt;width:90.14%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Slide presentation issued
    jointly by Best Buy Co.,&nbsp;Inc. and The Carphone Warehouse Group PLC dated
    May&nbsp;8, 2008</font></p>
    </td>
   </tr>
  </table>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  </div>
  <!-- SEQ.=1,FOLIO='3',FILE='C:\JMS\brosent\08-13880-1\task2922923\13880-1-ba.htm',USER='brosent',CD='May  7 22:16 2008' -->
  
  
  <br clear="all" style="page-break-before:always;">
  
  
  <div>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SIGNATURES</font></b></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">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.</font></p>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
   <tr>
    <td width="63%" valign="top" style="padding:0in .7pt 0in .7pt;width:63.3%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.34%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="33%" valign="top" style="padding:0in .7pt 0in .7pt;width:33.36%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">BEST BUY CO., INC.</font></p>
    </td>
   </tr>
   <tr>
    <td width="63%" valign="top" style="padding:0in .7pt 0in .7pt;width:63.3%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.34%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="33%" valign="top" style="padding:0in .7pt 0in .7pt;width:33.36%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Registrant)</font></p>
    </td>
   </tr>
   <tr>
    <td width="63%" valign="top" style="padding:0in .7pt 0in .7pt;width:63.3%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.34%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
    <td width="33%" valign="top" style="padding:0in .7pt 0in .7pt;width:33.36%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
    </td>
   </tr>
   <tr>
    <td width="63%" valign="top" style="padding:0in .7pt 0in .7pt;width:63.3%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date: May&nbsp;8, 2008</font></p>
    </td>
    <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.34%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
    </td>
    <td width="33%" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in .7pt 0in .7pt;width:33.36%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ SUSAN S. GRAFTON</font></p>
    </td>
   </tr>
   <tr>
    <td width="63%" valign="top" style="padding:0in .7pt 0in .7pt;width:63.3%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.34%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="33%" valign="top" style="border:none;padding:0in .7pt 0in .7pt;width:33.36%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Susan S. Grafton</font></p>
    </td>
   </tr>
   <tr>
    <td width="63%" valign="top" style="padding:0in .7pt 0in .7pt;width:63.3%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="3%" valign="top" style="padding:0in .7pt 0in .7pt;width:3.34%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
    </td>
    <td width="33%" valign="top" style="padding:0in .7pt 0in .7pt;width:33.36%;">
    <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vice President,
    Controller and Chief<br>
    Accounting Officer</font></p>
    </td>
   </tr>
  </table>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>
  
  <div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>
  
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  
  </div>
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metadata_documents: [{"type": "8-K", "sequence": "1", "filename": "a08-13880_18k.htm", "description": "8-K", "secsgml_size_bytes": 29108}]
metadata_filer: {"company-data": {"conformed-name": "BEST BUY CO INC", "cik": "0000764478", "assigned-sic": "5731", "irs-number": "410907483", "state-of-incorporation": "MN", "fiscal-year-end": "0301"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-09595", "film-number": "08812012"}, "business-address": {"street1": "7601 PENN AVE SOUTH", "city": "RICHFIELD", "state": "MN", "zip": "55423", "phone": "6122911000"}, "mail-address": {"street1": "7601 PENN AVE SOUTH", "city": "RICHFIELD", "state": "MN", "zip": "55423"}, "former-company": {"former-conformed-name": "BEST BUYS CO INC", "date-changed": "19900809"}}
text: UNITED STATES
  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)
  May 7, 2008
  BEST BUY CO., INC.
  (Exact name of registrant as specified in its charter)
  Minnesota
  1-9595
  41-0907483
  (State or other
    jurisdiction
  of incorporation)
  (Commission
  File Number)
  (IRS Employer
  Identification No.)
  7601 Penn Avenue South
  Richfield, Minnesota
  55423
  (Address of principal executive offices)
  (Zip Code)
  Registrant's telephone number, including area code
  (612) 291-1000
  N/A
  (Former name or former address, if changed since last report.)
  Check the appropriate box
  below if the Form 8-K filing is intended to simultaneously satisfy the
  filing obligation of the registrant under any of the following provisions:
  o
  Written communications pursuant to Rule 425
  under the Securities Act (17 CFR 230.425)
  o
  Soliciting material pursuant to Rule 14a-12
  under the Exchange Act (17 CFR 240.14a-12)
  o
  Pre-commencement communications pursuant to Rule 14d-2(b) under
  the Exchange Act (17 CFR 240.14d-2(b))
  o
  Pre-commencement communications pursuant to Rule 13e-4(c) under
  the Exchange Act (17 CFR 240.13e-4(c))
  ITEM 1.01
  ENTRY INTO A MATERIAL DEFINITIVE
  AGREEMENT
  On May 8, 2008, Best
  Buy Co., Inc. ("Best Buy" or "the registrant") and The Carphone Warehouse
  Group PLC ("The Carphone Warehouse") issued a joint press release announcing
  that they have signed a definitive agreement under which The Carphone Warehouse
  and Best Buy will create a new venture comprised of The Carphone Warehouse's
  existing retail business and The Carphone Warehouse's share of its existing
  relationships with Best Buy.  Best Buy
  plans to acquire a 50% stake in the new company for cash consideration of £1.1
  billion, or $2.1 billion.
  The transaction is
  conditional on the passing of an ordinary resolution approving the transaction
  by The Carphone Warehouse shareholders at its extraordinary general meeting, which
  is expected to take place by early August 2008.  It is also conditional on receipt of approval
  of the change in corporate controller from the Financial Services Authority in
  the United Kingdom, and on The Carphone Warehouse completing the reorganization
  of its corporate structure to create a new holding company for its retail
  assets, as well as other customary conditions.
  The transaction is
  expected to close during the registrant's fiscal second quarter, which
  concludes on August 30, 2008.
  A copy of the sale and
  purchase agreement will be filed with an amendment to this Current Report on Form 8-K.
  ITEM 7.01
  REGULATION FD DISCLOSURE
  On May 8, 2008,
  representatives of Best Buy and The Carphone Warehouse will hold an investor
  presentation which will be webcast to discuss the new venture. The registrant
  is furnishing the slide presentation, which it will use at its teleconference
  and webcast on May 8, 2008, and which it may use from time to time in
  presentations related to the transaction. The slides are furnished pursuant to
  Item 7.01 of Form 8-K and shall not be deemed to be "filed" for the
  purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise
  subject to the liabilities of that Section, unless the registrant specifically
  incorporates them by reference in a document filed under the Securities Act of
  1933 or the Securities Exchange Act of 1934. By filing this Form 8-K and
  furnishing this information, the registrant makes no admission as to the
  materiality of the information included in the slides. The registrant
  undertakes no duty or obligation to publicly update or revise the information
  included in the slides, although it may do so from time to time as the
  registrant's management believes is warranted. Any such updating may be made through
  the filing of other reports or documents with the Securities and Exchange
  Commission, through press releases or through other public disclosure. The
  registrant will make copies of the slides available for viewing at the "For Our
  Investors" section of its website located at
  www.BestBuy.com
  , although Best Buy reserves the right to discontinue that
  availability at any time.
  Some of the matters
  discussed in this Form 8-K (including Exhibits 99.1 and 99.2) may
  constitute forward-looking statements within the meaning of the "safe harbor"
  provisions of the Private Securities Litigation Reform Act of 1995. These
  forward-looking statements include statements other than those made solely with
  respect to historical fact and are based on the intent, belief or current
  expectations of the registrant and its management.  The registrant's business and operations are
  subject to a variety of risks and uncertainties that might cause actual results
  to differ materially from those projected by any forward-looking statements.
  Factors that could cause such differences include, but are not limited to,
  those factors set forth in the press release attached hereto as Exhibit 99.1
  and the risk factors set forth in the registrant's filings with the Securities
  and Exchange Commission.
  2
  ITEM 9.01
  EXHIBITS
  (d)
  Exhibits
  Number
  Description
  99.1
  Press release issued
    jointly by Best Buy Co., Inc. and The Carphone Warehouse Group PLC dated
    May 8, 2008
  99.2
  Slide presentation issued
    jointly by Best Buy Co., Inc. and The Carphone Warehouse Group PLC dated
    May 8, 2008
  3
  SIGNATURES
  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: May 8, 2008
  By:
  /s/ SUSAN S. GRAFTON
  Susan S. Grafton
  Vice President,
    Controller and Chief
  Accounting Officer
  4