The thrash giants haven't revealed full details about their own label, but say they're "excited that for the first time we get to hold all the reins on a release from start to finish".
And they've taken the opportunity to put their first offering on sale at a "fan friendly price" fitting since the tracklist was chosen by the band's supporters.
"Queben Magnetic" was shot over two nights in Canada in 2009 during the Death Magnetic tour. It will be released on December 10.
Metallica say: "The DVD and blu-ray will be out on our very own label in North America. There are still some Is being dotted and Ts crossed, so we can't give you a name or fancy logo just yet.
Since we now get to call all the shots, the double-DVD and single-disc blu-ray will be available for a price we thought was very fan-friendly. Suggested retail will be $15.98 for either format."
"Quebec Magnetic" tracklist:
01. That Was Just Your Life 02. The End Of The Line 03. The Four Horsemen 04. The Shortest Straw 05. One 06. Broken, Beat & Scarred 07. My Apocalypse 08. Sad But True 09. Welcome Home (Sanitarium) 10. The Judas Kiss 11. The Day That Never Comes 12. Master Of Puppets 13. Battery 14. Nothing Else Matters 15. Enter Sandman 16. Killing Time 17. Whiplash 18. Seek & Destroy
19. For Whom The Bell Tolls 20. Holier Than Thou 21. Cyanide 22. Turn The Page 23. All Nightmare Long 24. Damage, Inc. 25. Breadfan 26. Phantom Lord
Thanks to Classicrockmagazine for the report.