MELBOURNE, May 27 (Reuters) - Australia's competition watchdog said on Friday it would review Seven West Media's proposal to acquire The Sunday Times in Western Australia and its associated web site from News Ltd.

The Australian Competition and Consumer Commission said it would look at the impact of the takeover on newspaper prices, quality and range of content and advertising prices, especially in Western Australia.

It is aiming to make a final decision on July 28.

(Reporting by Sonali Paul; Editing by Stephen Coates)