Rolling Stone founder and Us Weekly owner Jann Wenner is finally being sued for divorce by his estranged wife Jane Wenner — 16 years after he sparked a sensation by leaving her and moving in with his gay lover, former Calvin Klein model Matthew Nye.

Jane Wenner filed for divorce in New York State Supreme Court on June 20, The Post’s Keith Kelly exclusively reports.

The couple’s separation in 1995 raised fears the rift would imperil Wenner’s media empire, which also includes Men’s Journal. The divorce filing is raising similar speculation.

“It can only mean they are selling,” said­ a source when informed of the divorce. “In the past, it was always too complicated.”

Funds from Jane Wenner’s dentist father helped Jann start Rolling Stone in the late 1960s, and she has remained a substantial partner in the business ever since — meaning the divorce will be costly.

The Wenners never formally filed for divorce even as they lived separate lives for nearly two decades, and Jann and Nye eventually had children by a surrogate.

It’s a mystery as to what pushed Jane to finally divorce now, but some believe a change in New York law allowing gay marriage may have been a big factor, since it clears the way for Jann and Nye to formally tie the knot.

No lawyer was listed for Jann, but Jane has hired Adria Hillman, the pit-bull attorney who handled Revlon mogul Ron Perelman’s last divorce.

Calls to Jann Wenner’s office and to Hillman were not returned by press time.

“He’s 65 now. What’s the point of keeping [the empire],” mused one ex-associate of a possible sale. “None of the kids are going to run it. I know he still enjoys Rolling Stone, but he spends a lot of time at his home in Sun Valley.”

And the price? “Jann can’t get that $700 ­million figure out of his head,” our source added.