Seven West Media chairman Kerry Stokes.
Seven West Media chairman Kerry Stokes (AAP/Mick Tsikas)

At a time when traditional media stocks are under the pump, you would think that billionaire mogul Kerry Stokes would be prioritising supporting his debt-laden Seven West Media.

But no, Stokes hasn’t injected a dollar into Seven West Media since a recapitalisation proposal in April 2015. Meanwhile, last week it was revealed his 61%-owned industrial conglomerate Seven Group Holdings had spent close to $350 million amassing a 10% stake in battling building products group Boral.

If Stokes isn’t prepared to recapitalise Seven West Media, which has a share price wallowing at around 17c, then his Seven Group Holdings should surrender control and sell its 40% stake.