The parent company of social media platform Parler and American rapper Kanye West, who now goes by Ye, have agreed to terminate the intent of the sale of Parler, according to a statement from Parlement Technologies on Thursday.
"This decision was made in the interest of both parties in mid-November," the company said in a statement.
"Parler will continue to pursue future opportunities for growth and the evolution of the platform for our vibrant community."
Parlement Technologies and Ye had announced plans for the deal in October. At the time the company said it expected the deal to close during the fourth quarter of 2022.
Ye has been criticized in recent months for making anti-Semitic remarks. On Nov. 22 he dined with former U.S. President Donald Trump at Trump's private club in Florida along with Nick Fuentes, a prominent white supremacist.
In September, Ye terminated his partnership with apparel retailer Gap Inc. German sporting goods maker Adidas terminated its partnership with Ye in October.
Parler, which launched in 2018, has been reinstated on Google and Apple Inc's app stores after being removed following the U.S. Capitol riots in January 2021.
Parler is one of several social media platforms, including Gettr, Gab and Truth Social, that have positioned themselves as free-speech alternatives to Twitter Inc prior to its new ownership under billionaire Elon Musk.