Best Buy and Amazon Expand Multi-Year Fire TV Partnership to Include Connected TV Advertising

Best Buy and Amazon on Wednesday announced an expanded multi-year Fire TV partnership that will bring the Fire TV operating system experience to Best Buy's Insignia-brand TVs and open new connected TV advertising opportunities through Best Buy Ads. The deal deepens an existing relationship between the two companies, extending Fire TV's reach into Best Buy's private-label television lineup while giving advertisers new inventory on the platform.

Best Buy shares responded positively, touching a 52-week high of $95.92 on Wednesday. Despite the intraday milestone, the stock ultimately underperformed relative to its retail peers by the close of trading. A Form 144 filing, signaling a planned insider sale, was also submitted on September 23.