The Australian Competition and Consumer Commission (ACCC) said it started an informal review of Southern Cross Media's (ASX:SXL) proposed acquisition of Seven West Media (ASX:SWM), according to a Wednesday statement by the Commission.

The ACCC said the companies overlap in the supply of content to customers, advertising opportunities to advertisers, and the acquisition of content from content providers.

Submissions on the ACCC's statement regarding the proposed acquisition are due by Oct. 29, per the statement.

Shares of Seven West fell nearly 2% in recent Wednesday trade.