The competition watchdog has raised concerns about Rupert Murdoch's News Corp gaining a monopoly on print newspapers in Queensland if allowed to buy its rival's mastheads.

APN announced in June that News Corp, one of its major shareholders, will buy a division called Australian Regional Newspapers [ARN] for $36.6 million.

ACCC has concerns about Rupert Murdoch's papers getting an effective monopoly in Queensland. Credit:Christopher Pearce

APN News and Media owns 76 printed newspapers distributed across Queensland and 60 websites.

News Corp owns a 14.9 per cent stake in APN, which has been restructuring by shedding its traditional media assets but keeping its radio and AdShel divisions.