Donovan Armstrong. Photo: Facebook (@DonovanMichaels)
Media mogul and billionaire philanthropist David Geffen is reportedly moving toward a final resolution in his high-profile legal battle with estranged husband Donovan Armstrong.
According to legal documents obtained by TMZ, the DreamWorks co-founder has officially notified the court that a comprehensive settlement has been reached.
While the specific financial terms of the agreement remain under wraps, the filing suggests that both parties are eager to “close the book” on what had become an increasingly contentious public split.
The divorce, which has been closely watched by both Hollywood and Wall Street, initially appeared headed for a protracted courtroom showdown.Geffen’s net worth is estimated at approximately $8 billion.
The couple, who were known for their private but glamorous lifestyle, saw their relationship sour publicly over the last year.
Legal insiders suggest that the move to settle out of court likely stems from a mutual desire to avoid the “discovery” phase of a trial, which would have required a granular accounting of Geffen’s vast business empire.
The settlement marks the end of a tumultuous chapter for Geffen. With the “nasty” elements of the litigation seemingly neutralized, a judge is expected to sign off on the final judgment in the coming weeks, officially dissolving the marriage.
Neither Geffen nor representatives for Armstrong have issued a formal public comment regarding the specifics of the deal.
