Larry King and Shawn King Divorce over 'Irreconcilable Differences'

Larry King and his wife, Shawn King, each filed for divorce Wednesday in Los Angeles Superior Court. Both cited "irreconcilable differences" in their filings, but they disagreed over custody of the two children from the 12 years of marriage.

He wants to share legal and physical custody of the boys with her, but she is asking the court to grant physical custody to her alone. The Kings have two sons, ages 9 and 11, CNN reports.

King’s net worth is an estimated $144 million. He is halfway through a 4-year, $56 million contract with CNN to host is hour-long evening interview program "Larry King Live."

Under California divorce law, Southwick is entitled to half of his earnings. King has been married seven times, but this will be his eighth divorce.

He married his third wife, former Playboy Bunny Alene Akins, twice. The two were married in 1961 but split up in 1963. They reunited in 1967 but divorced again in 1972, NYDailyNews says.

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