Nine Network CEO David Gyngell and media tycoon James Packer have both been fined A$500 (US$468) over their street fight in Sydney, Australia, late last week.
Gyngell and Packer shocked Australia by squaring off in a full-blown fist-fight outside Packer’s Bondi Beach apartment on Sunday, allegedly over a Nine Network news van parked close to Packer’s home.
Packer, who formerly owned Nine before selling it in order to enter the casinos business, was said to be incensed over a perceived invasion of privacy.
Gyngell has been reported by Australian media as admitting to be the instigator of the fight, but Nine has backed him to continue in his role.
Gyngell and Packer, who are childhood friends and have remained close throughout their adult lives, later released a statement playing down the clash.
A Nine spokesman said Gyngell was pleased the incident had been resolved.