Footage has emerged of the brawl between Australian media mogul James Packer and Nine boss David Gyngell which shows three men trying to restrain the pair.

The video comes after the publication of images by News Corp yesterday first exposed the stoush.

The footage was uploaded to News Corp websites this morning.

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According to the organisation, an angry text from James Packer to Gyngell demanding he remove a Channel 9 news truck from outside his Bondi Beach home is believed to have sparked the fist fight.

Packer had recently arrived back in Sydney from Jerusalem and Gyngell is heard yelling in the video: "I didn't even know you were in f***ing Australia", News Corp said on its website.

The publication of the two images by News Corp Australia yesterday comes after a reported bidding war to procure what's believed to be a set of photographs taken as the two former mates came to blows outside Packer's Bondi apartment on Sunday.

There are reportedly more than 50 photos in the set.

The billionaire businessman and the TV executive, who was best man at Packer's wedding, have issued a joint statement insisting they remain friends after news of the fracas broke.

"We have been friends for 35 years and still are," they said.

"In that time we have had our fair share of ups and downs.

"We respect each other and neither of us will be commenting further."

The incident also comes just days after Miranda Kerr, with whom Packer has been rumoured to be romantically involved, returned to Australia on May 2 on a promotional visit.