Jenna Dewan and Channing Tatum have finally settled their divorce over the Magic Mike franchise, as the former couple came to an agreement and settled their divorce.
Talks between Jenna Dewan and Channing Tatum stalled for years as the former spouses fought over the intellectual property and the distribution of money Tatum earns from the successful movie franchise.
Although details of the settlement are not public, Jenna Dewan and Channing Tatum signed a binding judgement this week that conclusively resolves the dispute.
That means the trial showdown between the battling exes that was scheduled for December is now off.
If Tatum or Dewan have any future disagreements over custody, they have agreed to work it out privately with a judge, according to court records submitted to an LA judge.
Jenna Dewan and Channing Tatum also mutually agreed to waive spousal support from one another.
Dewan and Tatum married after meeting while on set of the 2006 film Step Up.
They announced their split in a joint social media statement in 2018, saying there were ‘no secrets nor salacious events at the root of our decision.’
‘Absolutely nothing has changed about how much we love one another, but love is a beautiful adventure that is taking us on different paths for now,’ the exes said in the statement.
While the pair officially became single on November 2019, their divorce proceedings stalled over Tatum’s lucrative Magic Mike deals spawned from the 2012 motion picture hit.
The Hartford, Connecticut born actress maintained the money used during their 10-year marriage financed the Magic Mike franchise, which includes two sequels, a reality TV show on HBO called Finding Magic Mike and a live Las Vegas show.
Tatum and the film’s director, Steven Soderbergh, co-financed the project. The film was largely based on on Tatum’s own earlier experiences as stripper in Florida.
Their $7 million investment turned into a blockbuster, earning $167 million worldwide.
Celebrity attorney Samantha Spector, who represents Dewan, wrote in court documents that Tatum’s legal team ‘deprived Jenna of a fair and equal share of the community estate, and he is prejudicing her every day that this case continues.’
Spector estimated the Magic Mike business is ‘a potential billion dollar asset.’
‘I have never denied her share of any community assets or income,’ the 44-year old star wrote. ‘Her claims that I have “colluded with third parties” are completely false.
‘She has had complete access to all our financial records for all activities during our marriage and since separation. I continue to provide her with updates regarding Magic Mike financial matters.’
The former Step It Up co-stars share a daughter, 11-year old Everly, who they have 50/50 custody, which both agreed to back in February 2020.
Dewan has been engaged to actor Steve Kazee, 48, since 2020. Dewan and Kazee are parents to Callum, four, and baby daughter Rhiannon.
The actress posted, ‘Thank you universe’ on her Instagram and a smiling selfie on Wednesday – a day after she and Tatum signed the final divorce agreement.