A couple of mainstream news outlets have reported that TiVo is prepared to announce a partnership with Best Buy today. The reports say that under the multiyear collaboration, Best Buy will aggressively promote TiVo products in its stores. In turn, TiVo will develop a custom set-top box for the retailer to advertise its products through.

Other terms include Best Buy financing an initiative to incorporate TiVo’s interface, features and services into its own electronics – including its Insignia HDTVs. Also, Best Buy will utilize TiVo’s tcommerce function to sell its products and TiVo will provide its subscribers with access to Best Buy’s Napster music service in addition to other future digital offerings. Finally, Best Buy will be training its employees to be “more effective” TiVo salespeople.

According to the San Jose Mercury News, TiVo’s CEO Tim Rogers informed them that the custom Best Buy DVRs and availability of the Napster service on TiVo products won’t be launched before early 2010. The incorporation of TiVo’s platform into Best Buy’s in-house TVs won’t happen for an even longer stretch of time. Financial details of the arrangement haven’t been disclosed.