NEW South Wales Police have decided not to proceed with criminal charges against billionaire James Packer and Channel Nine boss David Gyngell over their wild street brawl last weekend which made headlines around the world.
Instead both men will be slapped with a $500 fine.
New South Wales Police said in a statement the organisation would not be proceeding any further in relation to the incident.
"Police issued a 46-year-old man and a 48-year-old man with a Criminal Infringement Notice for offensive behaviour," the statement said.
"The penalty notice carries a fine of $500 if it goes uncontested by the recipient."
The two men made international headlines last Sunday after being photographed in a wild fist-fight outside Mr Packer's Bondi apartment.
Both men have been best friends for more than three decades.
News Corporation paid $200,000 for the exclusive photographs which captured the two men slogging it out on the footpath dressed in tracksuit pants and t-shirts and in Mr Gyngell's case minus his shoes.
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