According to CNN, Ye will no longer acquire Parler after both parties mutually agreed to terminate the deal.
"In response to numerous media inquiries, Parlement Technologies would like to confirm that the company has mutually agreed with Ye to terminate the intent of sale of Parler," Parler tweeted on Thursday (December 1). "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," the company added.
Ye's increasing isolation in the business world was a factor in the decision to end the deal, which was previously intended to close before the end of the year, per NPR.
In recent weeks, Ye has seen several lucrative business deals, including ones with Adidas, Balenciaga, and Gap, collapse over his antisemitic remarks.
The rapper has faced widespread backlash for promoting antisemitism, including saying "I like Hitler" and denying the Holocaust on Thursday during an appearance on an alt-right show hosted by Alex Jones.
Ye was again suspended from Twitter on Thursday after he tweeted an image of a swastika depicted inside a Star of David.
"I tried my best," Musk said in a tweet. "Despite that, he again violated our rule against incitement to violence. Account will be suspended."