Magic Mike Money Dispute: Jenna Dewan Challenges Channing Tatum in Ongoing Divorce Drama
The Battle Over ‘Magic Mike’ Profits
Jenna Dewan has taken a stand against Channing Tatum, accusing him of withholding a fair share of the ‘Magic Mike’ franchise profits amid their ongoing divorce proceedings. The couple, who separated in 2018, have yet to finalize their divorce due to disputes over financial settlements, including the division of profits from the successful ‘Magic Mike’ series, which Tatum developed and co-financed during their marriage. According to court documents reviewed by RadarOnline.com, Dewan argues that Tatum’s refusal to agree to an equal division of the ‘Magic Mike’ intellectual property is the primary cause of the delay in their divorce settlement.
Complex Financial Arrangements
Dewan’s legal team alleges that Tatum has created a complex network of LLCs, holding companies, and partnerships, all designed to dilute and conceal the true value of his share in the ‘Magic Mike’ franchise. This intricate financial arrangement reportedly allows Tatum to disguise intellectual property and derivative asset income as consulting and performance fees, thereby breaching his fiduciary duty to Dewan. The actress contends that Tatum has engaged in self-dealing transactions and colluded with third parties to hide the franchise’s assets, even transferring significant portions of the ‘Magic Mike’ intellectual property to third parties without her consent.
Request for Equal Division
Dewan is now seeking a 50% cut of Tatum’s share in the ‘Magic Mike’ enterprise, highlighting the ongoing struggle for financial equity in the divorce. Despite the complexity of their financial disputes, both Dewan and Tatum have made mutual requests for divorce hearings, with Dewan submitting a preliminary witness list that includes both her and Tatum’s names. She aims to have both testify regarding all issues related to their marriage, including business and financial activities. Tatum, on his part, has requested Dewan and her fiancé, Steve Kazee, to testify, particularly about their cohabitation and joint expenses.
Looking Ahead to Divorce Hearings
As the scheduled hearing on April 12 approaches, all eyes are on how the estranged couple will navigate their financial disputes, especially concerning the ‘Magic Mike’ franchise. With six years having passed since their separation announcement, the resolution of their divorce hangs in the balance, hinging on the division of property, reimbursement claims, support issues, breaches of fiduciary duty, and attorneys’ fees. The outcome of their trial could set a precedent for how intellectual property assets are treated in divorce settlements, raising questions about the fair division of assets developed during marriage.