Seven Network chairman Kerry Stokes is speculated to be behind the latest purchase of a parcel of Consolidated Media Holdings shares valued at $28 million as James Packer confirms he has lifted his stake in the company to nearly 41 per cent.

Seven Network chairman Kerry Stokes is speculated to be behind the latest purchase of a parcel of Consolidated Media Holdings shares valued at $28 million as James Packer confirms he has lifted his stake in the company to nearly 41 per cent.