Terrence Howard's rep released a statement Thursday addressing the drama sparked by a WENN article that quoted the actor as saying Bill Cosby blackballed him from Hollywood.

On Wednesday, Cosby called EUR's Lee Bailey to refute the story. The veteran entertainer said Howard assured him in a recent telephone conversation that he "tells people" about the "invaluable advice" Cosby gave him that day, when he confronted the comedian about being cut from the show – a sentiment that was echoed in his statement.

"I have the utmost respect for Mr. Cosby. That story that ran is incorrect," Howard said through his publicist Michelle Benson. "The advice he gave me nearly 20 years ago was invaluable and still resonates with me today. I would never imply that he blackballed me, because it certainly was NOT the case."

Cosby said he didn't remember the alleged exchange with the then 19-year-old Howard, nor did he ever tell the show's casting agency to refuse to take his calls.

Before yesterday's statement, Howard's camp had declined to release an official denial of the original WENN story.