News.com reports that Overture unveils new ad service. This was, of course, expected given that competitor Google has already announced their similar contextual product.

“The product, called Content Match, allows Overture to place advertising text links on relevant content Web pages of newly signed distribution partners, which include Microsoft’s MSN and Edmunds.com. The service builds on Overture’s core business of selling commercial placement within search results that appear on partner sites including Yahoo and Microsoft. Advertisers pay Overture a per-click fee for preferred placement in those search results, and Overture splits the sales with its partners.”