Kanye West ends plans to buy right-wing social network Parler: report
Winner for Album Of The Year, Beck (in background), reacts as Kanye West leaves the stage during the 57th Annual Grammy Awards, in Los Angeles, February 8, 2015 (AFP)

On Thursday, Axios reported that right-wing social network Parler announced it would no longer be acquired by rapper Kanye "Ye" West.

"Parler announced Thursday it reached a mutual agreement with Ye, formerly known as Kanye West, to terminate the sale of the social media app," reported Dan Primack and Sara Fischer. "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.'"

"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,'" said the report. "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."

Parler, which initially saw a surge in user interest when it launched as an alternative to Twitter for conservatives who believe that website is "censoring" them, has been struggling financially. The network is best known for spreading a font of disinformation during the January 6 attack.

Actual studies have shown that Twitter was never actually censoring conservatives.

Ye, a longtime ally of former President Donald Trump who has been toying with the idea of a run for president in 2024, has caused a firestorm of criticism with his increasingly anti-Semitic statements, including pushing the "Black Hebrew Israelite" conspiracy theory stating the original tribes of Israel were Black Africans and modern Jews are imposters. This week, he escalated things further with an appearance on the extremist InfoWars show, where he professed admiration for Adolf Hitler.