Rumor About Universal Music Group Mediating Drake & Kendrick Beef Not True

There's a rumor going around that Drake and Kendrick Lamar's shared music label tried to force them to squash their beef -- but turns out, it's totally unfounded ... TMZ has learned.

Here's the deal ... a blind item is being circulated that purports to have the inside scoop on an alleged meeting between Kendrick, Drake and Universal Music Group ... which both artists are technically signed to via distribution subsidiaries.

There's a few bullet points addressed in the blind item -- including the claim that UMG honchos tried to force Kendrick to capitulate to Drake and apologize and squash things.

The blind item -- citing purported insiders -- said UMG wanted to have K.Dot put out a statement acknowledging that Drake is not, in fact, a pedophile ... this while alleging that UMG brass was viewing Drake as losing big time in the beef and it hurting their bottom line.

It also sounded pretty thorough and detailed ... but sources with direct knowledge tell TMZ there was no such meeting between UMG, Drake and Kendrick ... and that this entire little narrative -- which is starting to go viral online -- is completely made up and not true.

We're told not only did UMG not insert itself here ... but our sources, who are familiar with the inner workings of the label, say Universal would never jump into something like this.

The way it was explained to us ... Kendrick and Drake's beef is between them and completely separate from the business side of things -- and UMG just doesn't think it's their place to step in either way. So, they didn't ... nor did they ever consider doing so.

Mind you, there's also the fact that all these music drops have clearly only helped them. All the tracks between these two guys have spurred lots of streams and plays -- and that's dollars for UMG ... so, objectively, there's a financial incentive to keep a beef like this going.

Now, in terms of whether it actually will keep going or die on the vine ... all signs point to the latter. DJ Hed telegraphed this earlier this week, suggesting Drake was throwing in the towel and moving on. Of course, that was before a shooting took place at Drake's house.

No telling how the unfortunate development may affect things in the music space -- on the issue of either of these titans being brought in by the principal to work out their problems ... we're told it's complete BS.

Here's hoping they can work out their issues quietly (and non-violently) behind the scenes.