Seven West Media’s bid to own WA print newspaper Sunday Times has been approved by the Australian Consumer and Competition Commission (ACCC), the decision motivated by print readership declines.

The deal is set to see Seven tighten its monopoly over Perth printed news in a transaction understood to be between $12-$15m.

Prior to the deal’s approval, print advertisers had expressed concern over the decreased competition the acquisition would lead to.

However ACCC Chairman Rod Sims defended the watchdog’s decision, stating the takeover was supported due to the widespread decline of print audiences.

[Related: News Corp ARM buy under investigation]

“Following an extensive review, the ACCC has reached the view that the proposed acquisition is, on balance, not likely to substantially lessen competition for either consumers or advertisers,” says Sims.

“On the consumer side, the large decline in print newspaper readership formed a major part of our analysis. Many consumers in Western Australia are now getting their news online or from other sources.”

“Advertising expenditure in print newspapers in Perth is in steep decline. Most of the advertisers we spoke to after publishing the Statement of Issues are spending less on print newspapers than a few years ago and are finding alternative ways of reaching target audiences, including via digital media,” he added.

The Sunday Times will now be in full ownership of Seven West Media, including news website Perthnow.com.au.

Seven already prints the only weekday title in Perth The West Australian, as well as The Weekend West and owns a number of other media assets, including community and regional newspapers.

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