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Drake performs during the Budweiser Made In America Festival on September 2, 2012 in Philadelphia, Pennsylvania.

October's Very Own, the label spearheaded by Drake, has inked a deal with Warner Bros. Records.

A rumored deal was first floated by Hits Daily Double on Tuesday (Dec. 4), and a source has confirmed the impending partnership to Billboard. More details are expected to be released on Wednesday.

Although Drake is signed as a solo artist to Universal through Young Money/Cash Money, he and his producer Noah "40" Shebib have long associated themselves with the October's Very Own brand. Drake has used the October's Very Own blog to premiere new music as well as sell branded clothing, and OVO Fest, the rapper's annual Toronto summer music festival, takes its name from the label.

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In Feb. 2011, Rick Ross announced a partnership between Warner Bros. and his Maybach Music Group imprint. The label has since issued albums by Wale and Meek Mill, as well as a pair of MMG compilation LPs, while Ross has released his solo albums on Def Jam.

Check back with The Juice on Wednesday for further developments.