Paramount Skydance (PSKY) chief executive David Ellison met privately with President Trump last week, days before Trump said he was "not involved" in Paramount's battle with Netflix (NFLX) over Warner Bros. Discovery (WBD), CNN reported Thursday, citing sources familiar with the meetings.

According to the report, Ellison held two broad talks with Trump, amid Paramount pursuing a hostile bid for Warner Bros. Discovery to counter Netflix's planned takeover of Warner's studio and HBO.

Trump said he is leaving the dispute to the DOJ despite outreach from Ellison and Netflix co-CEO Ted Sarandos, the report said, citing a recent NBC interview.

Paramount, Netflix, and Warner Bros. Discovery did not immediately respond to MT Newswires' request for comment.

Shares of Paramount, Netflix, and Warner Bros. Discovery were down 6.9%, 4.5% and 0.8% respectively in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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