Channing Tatum dismisses ex-wife Jenna Dewan's claim he hid 'Magic Mike' income as legal battle escalates
LOS ANGELES, CALIFORNIA: Channing Tatum is pushing back against allegation by former wife Jenna Dewan that he hid his earnings from the ‘Magic Mike’ franchise.
Though Tatum and Dewan officially divorced in 2019, financial matters including the the division of ‘Magic Mike’ earnings, spousal support, and child support regarding their daughter Everly are yet to be resolved.
Dewan, who is currently engaged to her fiance Steve Kazee and expecting her second child in the next month, has issued a petition to ‘bifurcate’ the ‘Magic Mike’ revenue issues. Tatum, on the other hand, is opposing the bifurcation and wants to settle all of their legal issues together.
Channing Tatum fights back
The franchise under contention was created when the estranged couple was still married in 2012. Dewan’s attorneys are now accusing the 44-year-old actor of hiding a chunk of his income generated from the popular series.
In a recently filed motion, however, the actor vehemently opposed the accusations, saying, “I have always agreed for her to have an interest in the Magic Mike intellectual property and related entities," per Daily Mail.
He claimed, “I have never denied her share of any community assets or income. Her claims that I have 'colluded with third parties' are completely false.”
The star negated her accusations and claimed that he regularly keeps her abreast of the financial developments.
Tatum noted, “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.”
While Dewan seemingly wants to “bifurcate” the legal procedure, Tatum is vehemently opposing the petition.
In his petition, the actor requested the LA Superior Court “to finalize our divorce case without further delay”, while accusing his former wife of “delaying tactics to prolong resolution of our financial settlement…and to seek a windfall from me.”
The ‘She’s the Man’ star, who is engaged to actress Zoe Kravitz, also spoke up against paying spousal support to Dewan, saying, “I do not believe (Dewan's) request for spousal support is appropriate.”
He explained, “We had a short term marriage of eight years and eight months and separated over six years ago. Dewan started co-habiting with her fiancé (Steve Kazee) shortly after our separation five and a half years ago.”
“Dewan works, is able to contribute to her own support and will receive one half of the community property, residuals and royalties and income from other investments,” continued the star in his motion.
The suit continues, “She will also have substantial investment income fro the cash assets she has received in our divorce. She has received millions of dollars in cash assets.”
“She will receive additional cash assets when the remainder of our estate is divided and post separation accounting is finalized,” continued Tatum before adding, “There are not, nor have there ever been, any orders for temporary spousal support. I believe she is now requesting spousal support from me to further delay our financial settlement.”
Channing Tatum claims his post-separation efforts made ‘Magic Mike’ a success
The first film of the franchise was initially co-financed by Tatum and the film's director, Steven Soderbergh, and is partially based on the actor’s personal experience as a stripper in Florida.
Apart from the trilogy, the touring helped the franchise gain considerable wealth. Last month, Dewan's attorney, Samantha Spector, called the franchise “a potential billion dollar asset.”
Tatum’s lawyer Jacqueline Combs, however, claimed most of the wealth was generated after the estranged couple’s split and that Dewan has had no intellectual contribution.
The filing noted, “Dewan has not contributed any efforts to enhance the Magic Mike intellectual property.”
Tatum added in the filing, “Contrary to Dewan's allegations, I have only acted in the best interest of the community throughout our marriage and since separation.”
“I have expended substantial post-separation efforts to enhance the Magic Mike intellectual property and I have also licensed my name and likeness to the related business,” added Tatum.
He continued, “I believe these post-separation efforts give rise to my separate property claims to those assets but they have also benefitted the community. Without my post-separation efforts, the Magic Mike entities would have failed.”
He also addressed the accusation of hiding money in a trust by saying, “She is wrong,” and adding, “Together, Dewan and I established an irrevocable trust to invest in certain businesses and made Everly the sole beneficiary. This was done with Dewan's knowledge and involvement.”
A hearing is scheduled for the bifurcation motion on May 15. A trial date is scheduled for December.
