Parler announced Thursday that it has reached a mutual agreement with Ye, formerly known as Kanye Westto cancel the sale of the social media application.
Driving the news: The announcement by Parler, which has become a haven for conservatives, came hours after Ye launched a torrent of anti-Semitic comments during an interview with conspiracy theorist Alex Jones.
Be smart: the deal now I was on life support, like Axios previously reported, and it is unclear if a formal merger agreement was ever signed. Parler originally said she had an agreement "in principle" and today referred to it as "intent to sell."
- A Parler spokesperson previously told Axios that the acquisition would close by the end of the year, but declined to say whether Ye had ever signed any documents to that effect.
- In a statement, Parler's parent company said: "This decision was made in the best interests of both parties in mid-November. Parler will continue to pursue future growth opportunities and platform evolution for our vibrant community."
- A source familiar with the situation said Ye's precarious financial situation, including the loss of his deal with Adidas, played a role in the deal's collapse.
By the numbers: Ye has around 55,000 followers on Parler, compared to 18.5 million on Instagram and 32.2 million on Twitter.
Background: Multiple organizations and star athletes early this fall they distanced themselves from Ye following anti-Semitic comments.
Editor's Note: This story has been updated with additional details.
