EXCLUSIVE: FishbowlLA has learned that Sidney Kimmel Entertainment is putting the final touches on a first-look deal with MGM Pictures.

Kimmel, the millionaire Philly philanthropist behind the Jones apparel label (Joan & David, Jones New York, Evan Picone etc.) will soon set up his film production shingle at the Lion, people familiar with the deal say.

The multi-year deal would give the company - lead by former Sydney Pollack producing partner Bill Horberg a home - something it could certainly use given the number of movies it's producing: Kimmel is producing Billy Ray's "Breach" with Chris Cooper as FBI mole Robert Hanssen; this year's other Truman Capote film, "Infamous" (with Toby Jones as Truman); and the upcoming Tom Hanks / Colin Hanks magician drama, "The Great Buck Howard."

It's unclear if the planned Nick Cassavetes-adaptation of the Boston Teran novel "God Is a Bullet," (which Kimmel and Chuck Pacheco are producing) would be released through MGM if the deal is inked.

A formal announcement of the Kimmel/MGM deal could come as early as Wednesday.

Developing...