Yesterday, Best Buy Canada announced its intention to terminate its three-year partnership with The Media Company/MBS. It’s not because of dissatisfaction on Best Buy’s part, but because of a client conflict that recently developed when The Media Company’s parent, MediaCom, acquired the Staples account in Canada, the UK and the US.

Best Buy and sister company Future Shop have commenced a search for a new media buying agency and aim to complete the review by August. According to Nielsen Media Research, the two brands spent a total of $50.5 million on media buys in 2005.

HQ’d in Burnaby, BC, Best Buy Canada currently operates 48 stores in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario and Quebec, as well as an e-tailing division and the Geek Squad, a computer support group. Future Shop has 123 stores across the country and claims to be Canada’s largest national retailer and e-tailer of consumer electronics.

MediaCom operates as The Media Company and MBS, and is Canada’s largest media investment agency in terms of billings. It is part of WPP’s GroupM worldwide network, which operates in over 100 countries.