Australian police to investigate Packer and Gyngell brawl

Police have commenced an investigation into the brawl between billionaire James Packer and Channel Nine chief executive David Gyngell.

A spokesman confirmed on Tuesday morning that no formal complaint was made by either Packer or Gyngell but eastern suburbs police have launched an investigation and are appealing for any witnesses to come forward.

"Eastern Suburbs Local Area Command has commenced an investigation into an incident that occurred about 2pm Sunday on Sir Thomas Mitchell Road near the intersection of Campbell Parade at Bondi Beach," the spokesman said.

"Police have not yet received an official complaint but have appealed to any one who witnessed, or has vision or images of the incident, to contact Eastern Suburbs LAC on 9369 9899."

The pair was captured by a photographer punching each other on the Bondi Street on Sunday afternoon.

Packer emerged from his Bondi bunker this morning sporting a bruised and slightly swollen left eye.

Packer left his Sydney home at 9.30am, sitting in the front seat of his chauffeur-driven

Earlier this morning his mother Ros Packer had visited, spending an hour with her son as photos and video of the brawl with one of his closest friends were published across Australia.

Packer made no comment to the waiting media contingent, which has been camped outside his home since the story of Sunday's fight broke, however he was holding a newspaper, one of many which is carrying the embarrassing coverage today.

Explosive photographs and video footage of the punch-up are understood to have sold for more than $200,000.

As the billionaire gaming mogul nursed his wounds - and, potentially, his ego - after the fight with Gyngell, a media bidding war led to the cost of the explosive photos rising well above initial estimates.

Fairfax Media understands News Corp Australia eventually paid the hefty price for the 50-plus images and video footage, which hit the media market on Monday morning. (The Sydney Morning Herald)