The Food Network says it will not renew the contract of celebrity chef Paula Deen, days after it was revealed she admitted using racial slurs in the past.

The network said in a news release Friday afternoon that it would not renew Deen's contract when it expires at the end of the month.

Deen has built an empire from her television shows, cookbooks and product endorsements. The Food Network began airing "Paula's Home Cooking" in 2002 and added "Paula's Best Dishes" in 2008.

Deen admitted while being questioned as part of a lawsuit that she had used racial slurs in the past. The network's announcement came just hours after she posted a video online apologizing for her past mistakes.

THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.

Paula Deen issued a video apology on Friday, days after it was revealed that she admitted using racial slurs in the past.

The TV cook said she wanted to apologize "for the wrong that I've done" and that she wanted to learn and grow from the incident.

While questioned last month in a discrimination lawsuit, the 66-year-old Food Network star admitted to having used racial slurs in the past, but insisted she and her family do not tolerate prejudice.

In the video apology posted on YouTube, Deen said "inappropriate, hurtful language is totally, totally unacceptable."

The Food Network said Thursday it doesn't tolerate any form of discrimination and is looking into the situation.