Another Hollywood fairytale has been ruined as 'Intolerable Cruelty' actress Catherine Zeta-Jones and showbusiness legend Michael Douglas have reportedly separated.

Rumors about the famed Hollywood couple's separation started when they have not been spotted together in public for more than four months already. Last week, the actor was even photographed descending a private jet in Sardinia without his wife in tow.

Earlier this year, the pair's representative firmly denied divorce allegations. However, when asked about the issue just last weekend, the same representative simply said, "I won't talk about that."

The duo is seen as one of Hollywood's power couples who remain strong despite the pressures surrounding them. In 2011, Zeta-Jones stayed beside her husband after being diagnosed with throat cancer.

Douglas exhibited the same support when his Welsh wife had to go through rehabilitation for her bi-polar disorder.

A reliable insider told The Mirror that it was the Behind the Candelabra actor who decided that the marriage wasn't worth fighting for anymore: "Michael is going to announce the split soon. Catherine is fighting to save the marriage but he's had it."

There are reports as well that the golden couple is now preparing themselves for a $300 million divorce battle. However, sources close to the two insist that a celebrity divorce has never been considered. 

"Divorce would be the final straw. It would be too damaging for the children and a strain on both of them emotionally and health wise,' said the source to Grazia magazine.

They married in New York in 2000 through a lavish $1.5 million-worth ceremony.