The alternative social media network Parler, which is supported by conservatives including some far-right extremists, announced on Thursday that the musician formerly known as Kanye West will no longer be purchasing it. Ye is now officially known as West.
It was a mutual choice to renege on the agreement, Parler tweeted.
Parler’s parent company, Parlement Technologies, declared in a statement that it “had mutually agreed with Ye to terminate the goal of selling Parler. In mid-November, a choice was decided that would benefit both parties. Parler will keep looking for new chances to expand and advance the infrastructure for our thriving neighborhood.
A Ye spokesman has been contacted by CNN for comment.
According to an individual familiar with the situation who spoke to CNN, Ye’s persistent business struggles played a role in the decision.
Due to his antisemitic rants, Ye has recently seen a number of lucrative business opportunities fall through. Adidas, a maker of athletic apparel, announced in October that its collaboration with Ye was over. Other collaborations, like those with Gap and Balenciaga, have also come to an end. Ye also asserted earlier this week on a right-wing podcast that the Internal Revenue Service had frozen a number of his accounts due to a $50 million outstanding tax debt.
Ye originally revealed her intention to buy Parler in October.