Drake is setting up his own label after reportedly signing a new deal with Warner Bros. Records executives.

The rapper has been representing his Octobers Very Own (OVO) crew of artists and designers since signing to Lil Waynes Young Money Entertainment in 2009, and he has since turned it into a brand with a clothing collection and the annual OVO festival in his native Toronto, Canada.

Now Drake is preparing to become his own CEO by setting up OVO as an imprint of the Warner Bros. empire.

Reports suggest Drake will continue releasing solo music via Universal subsidiary Young Money Entertainment, and sign his own artists to his new label.