The sale of The Sunday Times and PerthNow website to rival Seven West Media is almost complete.
Seven West Media CEO and managing director Tim Worner confirmed the company that owns The West Australian and Channel Seven was in advanced negotiations with News Corporation to purchase the Sunday paper and popular website.
The deal now requires only regulatory approval from the Australian Competition and Consumer Commission which on Friday launched an investigation into the proposed acquisition.
Sources told WAtoday in February that details for the controversial sale were being ironed out.
The sale of the iconic Sunday paper to Seven West Media will give media baron Kerry Stokes a monopoly on mainstream newspapers in Western Australia.
The ACCC plans to investigate whether the acquisition would impact newspaper prices, the quality and diversity of local news content and the price of advertising.
The Sunday Times would still be published on a Sunday, giving The West Australian a seven-day news cycle and complete hold of mainstream print editorial and advertising revenue in WA.
The future of News Corp's online website PerthNow is unknown, given The West has its own news site - thewest.com.au - which is stuck in a tight contract through a local joint venture with Yahoo 7.
Staff from The Sunday Times were told in April about the possibility of a deal.
WAtoday understands less than half of the 50 remaining journalists at The Sunday Times and PerthNow could be employed by Seven West Media when the new ownership takes effect.
News Corporation refused to comment while Seven West Media have been contacted.
