A very public confrontation between James Packer and Seven Network boss David Leckie has been captured on camera, on the eve of the release of a new book that claims a $4 billion drop in Packer’s net wealth plunged the entrepreneur into depression.
Packer and Leckie were guests at the 70th birthday party for former Foxtel chief and long-time Packer friend Sam Chisholm, held yesterday at the Sydney Opera House.
But cameras captured what appeared to be a fierce confrontation between the two men, who formerly worked together at the Nine Network.
According to reports, Leckie, now the chief executive of the Seven Network, approached Packer to say hello, but was told to “f..k off” by man who formerly held the title of Australia’s richest man.
It is believed Packer is upset with the Seven Network’s recent coverage of his business interests, including his burgeoning casino empire in the gaming hub of Macau.
Packer’s public spat comes as Fairfax Media prepares to publish extracts from a new book on James Packer by Paul Barry, who wrote a best-selling biography of James’ late father Kerry Packer.
The book claims James Packer has retreated from public life and become depressed as a result of his family fortune falling by $4 billion during the global financial crisis.
The book, Who Wants to Be a Billionaire? The James Packer Story, compares James and Kerry’s business styles and claims James is obsessed with money.
When his fortune plunged $4 billion earlier this year, Barry claims Packer withdrew from public view, took up smoking, put on weight and became depressed.
An unidentified executive from Publishing and Broadcasting Limited is quoted as saying James Packer has ”an unrealistic view of business because it’s usually about plugging away, getting things right, and he’s just not interested in the grind”.
James was the editor and publisher of SmartCompany and LeadingCompany for five years. He is now the Australian Financial Review‘s companies & markets editor, and a former BRW editor.
