January 28, 2023

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Ye deal to buy Parler cancelled

Ye deal to buy Parler cancelled

This illustration shows the logo of social networking app Parler on a cell phone screen with an image of American rapper Kanye West in the background in Los Angeles, October 17, 2022.

Chris Delmas | AFP | Getty Images

Conservative social media company Parler said Thursday that its deal to buy Yi has been cancelled.

The rapper, formerly known as Kanye West, She agreed to buy the app in October for an undisclosed amount. Yi has made frequent and public anti-Semitic comments in recent months, and several business partnerships involving the musician have been terminated.

“The company and Ye have mutually agreed to terminate the intent to sell Parler,” the app’s parent company said in a statement to CNBC. “This mutually beneficial decision was made in mid-November. Parler will continue to pursue future opportunities for growth and platform development for our vibrant community.

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

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

Ye’s Twitter account has It has since been restored, and continued to post hateful comments towards the Jewish people. Twitter’s new owner, Elon Musk, has emphasized the platform’s commitment to freedom of expression.

earlier this fall, Gap retailers And the Adidas has ended its dealings With Ye and his Yeezy clothing line. Yee expressed his displeasure with the partnerships, saying that he did not give enough creative control over his line.

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This story is evolving. . Please check back for updates

— CNBC’s Ryan Brown contributed to this report.