Rapper Kanye West no longer plans to buy social media platform Parler

American rapper Kanye West's picture is seen on a smartphone in front of the logo of social media app Parler in this Illustration taken, October 17, 2022. REUTERS/Dado Ruvic/Illustration

(Reuters) -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."