The Daily Mail newspaper quoted the insider as saying the 83-year-old Oscar winner is done with chemotherapy treatment and has told his family he wants to spend his last days at home.

"Paul didn't want to die in the hospital," the newspaper quoted the source as saying. "(His wife) Joanne (Woodward) and his daughters are beside themselves with grief. ... He gave a prized car -- a Ferrari with his racing No. 82 on it -- to a longtime pal. The sudden move angered his children. It's especially hard for them to come to grips with what's going on. The word they've been given is that he has only a few weeks to live."

Newman and Woodward have been married for 50 years and have three daughters. Newman also has two daughters from a previous marriage.

The Mail said the star of "The Sting," "Cool Hand Luke" and "The Color of Money" has, thus far, declined to comment on reports regarding his health, other than to say he's "doing nicely."