Police issue fines after Sydney street fight between Australian billionaire and TV executive

Police have fined one of Australia's richest businessmen and a top television executive 500 Australian dollars ($468) each for a high-profile street fight in an exclusive Sydney beachside suburb.

Media across Australia have published photographs and video of casino mogul James Packer and his longtime friend David Gyngell, chief executive of Nine Entertainment, punching and grappling with each other outside Packer's luxury apartment at Bondi Beach on Sunday afternoon.

New South Wales state police launched an investigation in response to the media reports and public criticism of the violence, although no one made an official complaint.

Police issued a statement on Friday, saying both men had been issued with a criminal infringement notice for offensive behavior. They can either pay the fine or fight it in court.