Jenna Dewan has accused Channing Tatum of obscuring how much money she is entitled to from the Magic Mike franchise. However, Tatum's lawyers have refuted this, asserting he has not withheld any communal assets or income.
The Magic Mike series, which started with a hit 2012 movie featuring Tatum in a leading role, has expanded into sequels, a reality show, and a live performance in Las Vegas. Dewan, aged 43, asserts that the concept for Magic Mike was developed during her marriage to Tatum, granting her rights to half the profits from the franchise, People reported.
According to a recent court filing from Dewan's legal team on May 8, they request a separate trial to determine her entitlement to the profits from the Magic Mike franchise, emphasizing the importance of resolving this issue before any other asset distribution is considered.
Dewan accuses Tatum, 44, of transferring Magic Mike earnings to another entity post-separation, a move she claims was made without her knowledge or approval. Her legal team contends that this was done to minimize her share of the profits.
In response to these allegations, Tatum’s legal representatives argue that there is no need for a separate trial. They insist that Tatum has been transparent about Magic Mike's financial dealings and has kept Dewan updated on all matters, even after their separation.
They further contend that Tatum has significantly developed the Magic Mike intellectual property after their separation, thereby establishing a separate property interest. This claim is central to the ongoing legal argument over the distribution of assets.
The couple first met on the 2006 film "Step Up" set and married on July 11, 2009. They announced their separation in April 2018, though they had parted ways several months prior.
Dewan and Tatum have moved on since their legal single status was declared; Dewan is now expecting a child with her fiancé, Steve Kazee. Despite these new chapters in their lives, the dispute over Magic Mike's profits remains a contentious issue.
Dewan's legal team argues, "The story idea, which is an intellectual property asset, was entirely created during the marriage," thus supporting her claim to half the profits. They accuse Tatum of attempting to "blur the lines" to secure an unequal split by disguising passive entities as productive ones post-separation.
Conversely, Tatum’s lawyers assert, "She has had complete access to all our financial records for activities during our marriage and since separation. I continue to provide her with updates regarding Magic Mike financial matters." They also state that all efforts to settle this matter outside of court have been exhausted.
The resolution of this dispute will potentially set a precedent for how earnings from shared intellectual property are treated in divorce proceedings, especially when the property in question continues to generate significant revenue after separation.
The court's decision on whether to grant a separate trial for the Magic Mike earnings could significantly influence the final settlement between Dewan and Tatum, reflecting broader implications for similar cases in the future.
In conclusion, Jenna Dewan seeks a fair share of the profits from the Magic Mike franchise, claiming it was developed during her marriage to Channing Tatum. With legal arguments focusing on the separation of assets and continued financial transparency, the outcome of this legal battle will not only affect their divorce settlement but may also influence future cases involving shared creative endeavors in Hollywood.
