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Naomi Watts, Liev Schreiber call it quits after 11 years

Actor Liev Schreiber and Naomi Watts pose on the red carpet before the premiere of the movie "The Bleeder" presented in competition at the 73rd Venice Film Festival on September 2, 2016 at Venice Lido. TIZIANA FABI/AFP/Getty Images

Less than a fortnight after it was discovered Angelina Jolie was filing for divorce from Brad Pitt, another Hollywood power couple – Liev Schreiber and Naomi Watts – has decided it is time to end things.

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Watts and Schreiber announced Monday they are splitting up after 11 years together, according to multiple reports.

WATCH: Naomi Watts Recalls Her Most Destructive Moment

The couple released a statement which read, “Over the past few months we’ve come to the conclusion that the best way forward for us as a family is to separate as a couple. It is with great love, respect and friendship in our hearts that we look forward to raising our children together and exploring this new phase of our relationship.”

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Watts, 47, and Schreiber, 48, who began dating after working on their first film together, The Painted Veil, were never married.

The couple told TMZ they will raise their children, 9-year-old Alexander and 7-year-old Samuel, together during “this new phase” of their relationship.

Their joint statement also asked for “privacy” for their children in the matter.

“While we appreciate your curiosity and support, we ask the press to be mindful of our children and respect their right to privacy.”

The pair were in Toronto at the beginning of September while promoting their new film The Bleeder.

Just a couple of weeks later, Schreiber took their eldest son to the Emmys rather than Watts, a move which raised a few eyebrows.

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