Ye deal to buy Parler called off

This illustration photo shows the Parler social network app logo on a cell phone screen with a picture of US rapper Kanye West in the background in Los Angeles, October 17, 2022.

Chris Delmas | AFP | Getty Images

Conservative social media company Parler said Thursday its deal to be bought by Ye has been called off.

The rapper, formerly known as Kanye West, agreed to buy the app in October for an undisclosed amount. Ye has made repeated and public antisemitic comments in recent months, and several business partnerships involving the musician have been terminated.

“The company has mutually agreed with Ye to terminate the intent of sale of Parler,” the app’s parent company said in a statement to CNBC. “This decision was made in the interest of both parties in mid-November. Parler will continue to pursue future opportunities for growth and the evolution of the platform for our vibrant community.”

Parler has attempted to position itself as a right-wing alternative to Twitter, which suspended Ye’s account shortly before he announced his intent to buy Parler.

“In a world where conservative opinions are considered to be controversial, we have to make sure we have the right to freely express ourselves,” Ye said at the time in a statement released by Parler.

Ye’s Twitter account has since been restored, and he’s continued to spread hateful comments toward Jewish people. Twitter’s new owner, Elon Musk, has emphasized the platform’s commitment to free speech.

Earlier this fall, retailers Gap and Adidas ended their dealings with Ye and his Yeezy clothing line. Ye expressed discontent with the partnerships, saying he wasn’t granted enough creative control over his fashion line.

This story is developing. Please check back for updates.

— CNBC’s Ryan Browne contributed to this report.