Newswire: is also launching its own video streaming service, home to discount prices and the oddly erotic commercials promoting them, has announced that it will be launching its own streaming video service to compete with Amazon, hoping that the same drive to find bath towels for a few cents cheaper will apply to looking for movie and TV content. As announced today by Overstock CEO Patrick M. Byrne, the online wholesaler plans to debut video-on-demand later this year with around 30,000 titles, then eventually branch into streaming acquired content and even original programming. Much as Overstock cuts out the unnecessary middleman when it comes to department store mark-ups, the new initiative is intended to eliminate the superfluous satire from Onion articles.

Byrne claims that Overstock is already Amazon’s closest competitor when it comes to online retail, so he believes it stands to reason that it should also get into the media business—and eventually dominate …

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