In a further sign of the decline of decline Kerry Stokes’ Seven West Media, the company will be dropped from the most important investment measure in the country -- the key ASX 200 index -- later this month, according to the index's compiler S&P.

The move will see shareholders who invest passively by hugging the ASX 200 sell Seven West shares and invest elsewhere (such as in Austal, the Perth based ship builder which is being installed on the index at the same time).