Larry King has filed for divorce from wife Shawn Southwick King, TMZ reports.
The pair has two sons, Chance, 11, and Cannon, 9. TMZ also reports that King has filed for joint custody of the boys.
"It's a very sad day in Larry's life and he hopes the divorce will be amicable," King's lawyer Susan Carter told TMZ. "Larry loves his children very much and will be an integral part of their lives."
The couple married in 1997; this will be King's 8th divorce.
Southwick was King's 7th wife, but he married (and divorced) the same woman twice. They appeared affectionate in photos as late as March 6, 2010, when they attended An Evening With Larry King And Friends Gala in Washington, DC.
King is 76; Southwick is 50.
Southwick reportedly entered rehab for a prescription drug addiction in 2008. She has been attempting to build a music career, and was a finalist for a role on Broadway last year.
In 2008, GQ named King to its "Most Whipped Husbands" list:
CNN's house septuagenarian married his [seventh] wife, Shawn Southwick, while recovering from a cardiac episode. She has recently turned to country music, causing her husband to croak, "I think she's a terrific singer, and I want her to be a star, and in two or three months I'll get dumped for a drummer who's 29 years old named Lance." Fine, but in the meantime, please stop putting her on your show.
UPDATE: Radar Online reports that both King and Southwick have been accused of cheating. Southwick was accused of an affair with Hector Penate, who coached one of her son's baseball teams. King, interestingly, was accused of an affair with Southwick's sister Shannon Engemann.
UPDATE: Southwick's sister Shannon Engemann tells TMZ that Shawn is convinced she and Larry have been having an affair:
Shannon says Shawn has been accusing her of fooling around with Larry for months. She says Shawn has repeatedly pointed to the fact that Larry gave Shannon numerous gifts as evidence. But Shannon says, "This is so ludicrous. She's singling me out, but Larry has been nothing but generous to our entire family, including me."...
Shannon said, "Shawn has left me threatening messages." After the National Enquirer published a story suggesting an affair, Shannon says, "Shawn left me a message ... 'If you dare sue the Enquirer I will pull out every last receipt that proves you had an affair with Larry.'"
"I'm tired for taking the wrap for things," Engemann told TMZ. "I did not have an affair with Larry. He's been like a father to me."
RadarOnline reports that "Shawn and Shannon fought bitterly over the situation," and though Shannon, Shawn, and Larry have all denied the affair, "a source close to the family says it is true."
"People close to the situation said they believed Larry bought Shannon a $160,000 luxury car and spent more than one million dollars on her!" Radar adds.
Southwick and her sister are both Mormons.
See the divorce filing below, via RadarOnline: