By Chelsea J. Carter and Carolyn Sung, CNN

(CNN) - Celebrity chef Paula Deen's contract with The Food Network will not be renewed, the network said Friday, the latest fallout over revelations this week that she admitted to using a racial epithet in the past.

Deen's contract with The Food Network, which airs three shows featuring the chef, expires at the end of the month, the network said.

The Food Network's announcement followed reports earlier this week that Deen acknowledged in a lawsuit deposition to using the "N word," but denied telling racial jokes.

It also came the same day that Deen apologized in video statements posted online for "the wrong that I've done."

"I want to apologize to everybody for the wrong that I've done," Deen said in the video statement. "I want to learn and grow from this. Inappropriate and hurtful language is totally, totally unacceptable. I've made plenty of mistakes along the way but I beg you, my children, my team, my fans, my partners, I beg for your forgiveness."

What do you think Paula Deen should do now? Are there meaningful ways – words or actions – to recover from racism? How are they different if the person is high-profile, like Deen?

Share your thoughts and ideas in the comments, and check the latest updates on the story here.