Barbara Walters' Ex Went Bankrupt at 83 & His Life Ended In Nursing Home after Court Case with Much Younger Wife

Barbara Walters was married three times. Her third husband, Merv Adelson, moved on with a much younger wife, who bore him two daughters. However, the marriage crashed after a decade. A few years after the divorce, what happened to Adelson, a once wealthy man, shocked the world.

Barbara Walters died at the age of 93 in her home surrounded by loved ones, TMZ reports.

For more than three decades, Barbara Walters devoted her time to TV. The exceptionally brilliant broadcaster and TV personality is respected for her fearlessness and ability to question her guests intelligently on TV.

Her life away from the camera involved trying to find love; the former onscreen star was married three times. Merv Adelson, her third husband, was a powerhouse in the entertainment industry.

Adelson co-founded Lorimar Television and was an incredible TV producer who whipped up the most outstanding shows on TV, including "The Waltons". Additionally, he controlled and developed a real estate business.

In 1986, the business magnet married Walters. This was the pair's third marriage as they had both been married two times. In a 1985 interview, the TV personality discussed her future with Adelson.

Walters believed that their love story was happening at the right time. She explained that being independent made marriage easier and more genuine. In her words:

"You really want to be with this person, and you don't get married for security or position. You just want to be with that person."

Luckily for these two, they were both financially independent and shared a similar story. Not only were they divorcees, but they also had kids from previous marriages.

Yet, their baggage—Adelson brought in his three kids, Ellen Ross, Andrew, and Gary, from his first marriage, and Walters, her daughter, was not enough to stop them from getting married. Walters gushed:

"I can hardly believe it. I've been single for 13 years. I wasn't sure it would ever happen again. But this is a relationship where, we hope, instead of one plus one equals two, it will come to five."

It was widely believed that their marriage crashed after a few years, but they remarried. This meant that they took their wedding vows two times. In 2015, many years after their divorce, the retired journalist corrected the assertion via a letter forwarded to a media house.

She maintained that her ex-husband was a kind man who loved good humor and that they remained close after their divorce. However, Walters claimed they were married only once.

Merv Adelson Marries Again

Adelson married Walters at his peak, but the tremendously successful TV producer and an equally accomplished broadcaster did not last long. Their careers were based in different locations, and the distance affected their relationship.

While his reasons for checking into a nursing home remain confusing, reports showed that the producer found a company with Bud Yorkin, the famous Norman Lear's partner.

Before ending his relationship with Walters, the TV producer began writing another fairytale romance with Thea, a lawyer who was thirty years his junior. Soon, they were married, and their union produced two daughters.

At the time, Adelson was a blessed man; while he shared an enviable relationship with his younger wife, he was a father of five and had more than enough money in his pocket.

Indeed, Adelson was a wealthy man who also indulged himself in big-time spending. He owned a jet and was known for his opulent lifestyle. In the 1980s, his TV production company made numerous hits, including "The Waltons", "Dallas", and "Knots Landing".

On the other hand, his ex-wife, Walters, never remarried. Instead, she focused on living a great life by spending time with her daughter and hoping to become a grandmother.

The ex-broadcaster told Oprah Winfrey in an interview that she is obsessed with babies. She added that her daughter would joke about watching her in the park because she could kidnap a baby. According to Walters:

"My daughter doesn't particularly want to have children. I would love to have a grandchild. I've told her, 'Have a grandchild and give it to me.' But I understand women who don't want children. That's one of the good things about our society today."

Merv Adelson Declares Bankruptcy

The Lorimar TV co-founder was always a risk taker and showed this in his business. Following the success of the shows on his TV, Adelson went on to produce a few films, including "An Officer and a Gentleman", "Urgh", and "Being There".

In the late 90s, an internet start-up appealed to him, and he invested almost his entire fortune. Sadly, this venture was not profitable, as the internet bubble burst in 2000.

Three years later, his wife slammed him with divorce papers. For the settlement, the lawyer got the beach house in Malibu, while her ex-husband, a former ranch owner, resided in a small studio apartment in Santa Monica.

Adelson revealed that he was Bankrupt and neck deep in debt worth $112 million. In 2013, at age 83, the former wealthy businessman visited an LA court.

He had skipped the monthly child support and owed nearly $1 million. Walters' ex-husband, who had paid $20,000 every month, asked the court to reduce the payment to $2,137, but this was not what Thea wanted.

According to Robert L.Schibel, who represented Adelson, "Thea's asking for bigger payments on arrears. She's asking for 100 percent of what he has coming in."

The TV producer alleged he did not have much money, as he depended on the small income from consulting for Time Warner— the firm that bought his production company.

Apart from debt, Adelson began living in a medical facility in Woodland Hills, California, run by the Motion Picture & Television Fund. An eye-witness confessed that the former business mogul looked fit and should not be in the facility.

While his reasons for checking into a nursing home remain confusing, reports showed that the producer found some company with Bud Yorkin, the famous Norman Lear's partner.

Like Adelson, Yorkin earned some remarkable stripes in production. His partnership with Lear made unforgettable sitcoms that defined the 70s. The names of these shows were "Maude", "Sanford and Son", and "All in the Family".

In 2015, two years after his stay in the medical facility, Adelson died. According to his son, Andrew, the iconic producer suffered complications from a stroke.

That was not the only health issue he had. In his early years, he inherited cancer from his father, who died from the disease in 1978.

Adelson went on to build a hospice, at the University of Nevada-Las Vegas campus, in honor of his dad. While recounting his life, a close pal, Molasky, said:

"He wanted to provide death with dignity. His father didn't have it. And the shame of it is, the son didn't either."

Sources claimed that Adelson's life was rags to riches and back to rags. But despite this analysis, he remains a respectable businessman and producer who co-founded an outstanding TV company, one the world may never see again.