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Overstock.com CEO eyes disposal or reorganization of retail biz

Overstock.com Inc. CEO Patrick Byrne is expecting to sell or reorganize the company's retail business in the next three months in order to refocus operations on blockchain technology, CNBC reported Dec. 14.

Byrne told CNBC that he aims to have a deal set within the next three months, which would allow the company to concentrate on his new joint venture to develop a blockchain-based global property registry system.

Among the options reportedly being considered are selling Overstock.com's home goods e-commerce business to a physical retailer, or taking the company private with a private equity firm in order to spend two years integrating the blockchain and retail operations.

Another option is to take on a strategic investor, which Byrne said would probably be from Asia, according to CNBC.