Billionaire James Packer and Channel Nine boss David Gyngell have been charged with offensive conduct following their brawl in the Sydney eastern suburb of Bondi.

The charge carries a maximum of three months in prison and a fine of $500.

NSW Police launched an investigation into the incident after News Corp published pictures and video footage of the fight.

A police statement on Friday said a 46-year-old man and a 48-year-old man had been issued with the notices.

The business heavyweights generated worldwide headlines after photos and video emerged of the childhood chums fighting outside Packer's home in Bondi in Sydney's eastern suburbs.

Gyngell issued a statement on Tuesday saying he was the instigator of brawl that resulted in a black eye for Packer and embarrassment for both men, after police revealed they were investigating the dust-up.

"David Gyngell respects the job police do and will co-operate fully with their investigation," the statement said.

"He also fully accepts that he was the instigator of the incident.

"Clearly, had he not turned up at Packer's premises in an angry mood then the confrontation would never have occurred."



There was speculation about whether the incident would impact Packer's ability to hold casino licenses.



However, the police appear to have deemed it a minor offence.