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According to court papers obtained by PEOPLE, Young, 37, petitioned for a divorce, citing irreconcilable differences in his Nov. 22 filing.
"The couple remain on friendly terms and sincerely hope the media will respect their privacy during this difficult time," the pair said in a statement Thursday.
The Private Practice star, 41, wed Young – a production co-president at 20th Century Fox – on Sept. 1, 2007, in the town of Ojai, just north of Los Angeles, after becoming engaged in May.
In October 2007, Walsh, then a newlywed, talked openly about their whirlwind relationship, telling Ellen DeGeneres on her show, "There was this kind of funny moment, after we were like we're married and all of the hoopla was over and we were like, 'What do we do now?' "
"We're married," she said at the time. "Alright, I guess we just live and love and learn from each other."
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