Ye is no longer buying Parler
Parler announced Thursday it reached a mutual agreement with Ye, formerly known as Kanye West, to terminate the sale of the social media app.
Driving the news: The announcement from Parler, which has become a haven for conservatives, came hours after Ye spewed a torrent of antisemitic remarks during an interview with conspiracy theorist Alex Jones.
Be smart: The deal already was on life support, as Axios previously reported, and it's unclear if a formal merger agreement was ever signed. Parler originally said it had an agreement "in principle," and today referred to it as "intent of sale."
- A Parler spokesperson previously told Axios that the acquisition was set to close by year-end but declined to say if Ye ever had signed paperwork to that effect.
- In a statement, Parler's parent company said: "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."
- A source familiar with the situation said that Ye's precarious financial situation — including the loss of his Adidas deal — played a role in the deal collapse.
By the numbers: Ye has just around 55,000 followers on Parler, compared to 18.5 million on Instagram and 32.2 million on Twitter.
Editor's note: This story has been updated with additional details.