Kanye West will no longer purchase alternative messaging platform Parler, the company has announced.
A statement from parent company Parlement Technologies said both parties had “mutually agreed” to terminate the intent of sale in mid-November.
Parler has styled itself as an unbiased platform and has become popular with those banned from Twitter, also hosting prominent American conservative voices.
The social network was removed from app services including Apple and Amazon for a period following the US Capitol attack because of concerns over its role in the violence.
“Parlement Technologies would like to confirm that the company has mutually agreed with Ye to terminate the intent of sale of Parler,” the company said in a statement shared online.
“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.”
It comes after West, who has legally changed his name to Ye, returned to rival social media platform Twitter since its takeover by Elon Musk.
The rapper continued to stoke further controversy online, with remarks made on Thursday during an interview with US conspiracy theorist Alex Jones.
During the interview, with his face covered in a mask, West praised Nazi leader Adolf Hitler.
His previous antisemitic remarks have resulted in the termination of lucrative partnerships, including with German sportswear brand Adidas.