By Francisco Salazar (staff@latinospost.com) | First Posted: Sep 13, 2013 12:22 AM EDT

Meryl Streep will shake up the Best Actress race again.

The Gold Derby's Tom O'Neil is reporting that Streep will now be campaigned for Best Actress and that Julia Roberts would be dropped to Supporting Actress for their roles in "August: Osage County."

O'Neil's source, an unidentified Weinstein Co. rep said, "We have to look at the Best Actress race this way: Who's strong enough to beat Cate Blanchett? It's Meryl. It's an honor just to be nominated."

The news comes as no surprise. Streep obtained rave reviews at the Toronto Film Festival for her role as Violet. Streep is also a favorite of the Academy. She has been nominated 17 times and has won three Oscars for her work. In contrast, Roberts has only been nominated three times and has only won one Oscar. The actress was last nominated in 2000, while Streep recently won in 2011.

With Streep back in the Best Actress race she will have to compete with Blanchett who has been hailed as the front runner to win the race. Additionally, she will have competition in Dame Judi Dench for her acclaimed work in "Philomena" and Sandra Bullock in "Gravity." Kate Winslet will also compete, as will Marion Cotillard, Emma Thompson, Brie Larson and Amy Adams.

Streep was last seen in "Hope Springs," "The Iron Lady," "Julie and Julia" and "It's Complicated." She is currently signed on to work on "The Homesman," "The Giver" and "Into the Woods."

"August Osage County" tells the story of a family who is reunited when crisis strikes. The Weinstein Company is slated to release the movie on Dec. 25 in limited release. "August: Osage County" is rated R for language including sexual references, and for drug material.

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