Australia's competition watchdog has helped Kerry Stokes closer to retirement, clearing Southern Cross Media to take over his Seven West Media.

The Australian Competition and Consumer Commission has opted not to oppose the media tie-up, with deputy chair saying Mick Keogh saying the companies were different enough not to significantly impact advertising or content markets.

Southern Cross is a radio and podcast business, led by the Triple M and Hit networks, while Mr Stokes' company operates national broadcaster Seven and newspapers in Western Australia.

"Southern Cross and Seven are not close enough competitors for content," Mr Keogh said in a statement on Thursday.

The watchdog also found the rise of streaming services and online advertising mean the merger would not substantially les

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