Johnny Depp

and longtime partner

Vanessa Paradis

"are all but finished" after nearly 14 years together, according to a cover story from

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People

magazine.

Tabloid speculation that the notoriously private couple's relationship was on the rocks emerged earlier this month.

Website

claimed that the

Pirates of the Caribbean

star was on the verge of a split because of the couple's 'constant arguing'.

"Johnny isn't handling anything well right now," a source said.

"People around him are worried about how Johnny is doing because he and Vanessa seem so fractured right now. Their relationship is heading toward the end."

The website also suggested that Depp had been seeking legal advice over the alleged breakdown of the relationship.

"Johnny has started reaching out to lawyers, probably to quietly discuss how to get out of the relationship," said a source.

"They're not married but they've been together for years and have kids together so it isn't as easy as just breaking up.

"Johnny is so talented at acting, but he doesn't seem able to hide how badly things are going right now."

And now a cover story in

People

mag, quoting unnamed sources, suggests that Depp, 48, and Paradis, 39, may already have split, having led "separate lives" for quite some time.

"My sense is that this is a couple which hasn't existed for two years," said a source.

"It's so sad," laments another insider, according to the report.

Another source claims that a decision to move to Los Angeles from their home base in the French village of Plan-de-la-Tour has supposedly driven them apart.

"They bet that they could move to California and be on long stays on film locations, for his career," a source said. "They bet that things would continue there as they had in the south of France. They lost that bet," the souse told People.

"Vanessa went seven years between albums and several years between film projects while he became Captain Jack Sparrow."

"According to multiple sources...[they] are all but officially finished," the magazine said.

The mag also speculates that Depp and Paradis have not been spotted together on the red carpet in more than a year.

Paradis was a no-show at the Cannes Film Festival premiere of Depp's fourth

Pirates of the Caribbean

film in May, stirs the mag.

And while the pair were in Paris last November, Paradis opted out of attending the French premiere of his film,

The Rum Diary

,

People

reports (via the

Daily Mail

).

"She went instead to a concert that night," a source said. "It was weird and pretty clear: You're in town and don't go to the premiere of your husband's film?"

Depp made a solo appearance at the Golden Globes on Sunday.

It's worth noting that Paradis has rarely been at Depp's side when he makes public appearances.

Depp explained to

Extra

in December 2010 why he and Paradis had never married.

"I never found myself needing that piece of paper," Depp confessed.

"Marriage is really from soul to soul, heart to heart. You don't need somebody to say, okay you're married... If Vanessa wanted to get hitched, why not... But the thing is, I'd be so scared of ruining her last name. She's got such a good last name."

The pair recorded a song together in November as a tribute to French singer

Serge Gainsbourg

.

Check out

Ballade de Melody Nelson

below:

There's been no official word from the Depp-Paradis camp on

People

's cover story.

- Blogger Bites Back