Fullscreen Media, the multichannel network acquired two months ago by AT&T and Chernin Group, is buying Rooster Teeth, a studio that produces a popular gameplay video series called Red vs Blue on YouTube.

With Rooster Teeth, Fullscreen is gaining 8 million subscribers, a merchandise and live-events business, and a production company capable of creating live-action shorts, serial comedies and animation, the companies said Monday in an e-mailed statement. A sales price and other financial terms weren't provided.

See also: Fullscreen Media to Launch New Premium Video Platform

Multichannel networks, companies that sell advertising across sometimes hundreds of video sites on YouTube, are becoming highly valuable to media companies, including DreamWorks Animation and Disney, that are trying to reach young viewers, who more commonly watch videos online than on television or in a movie theater. DreamWorks Animation acquired AwesomenessTV in May 2013 and Disney bought Maker Studios in March.

“Rooster Teeth is one of the strongest and most authentic media brands in the world amongst 18-34 year old, male-skewing audiences,” George Strompolos, Fullscreen CEO and founder, said in the statement. “The combination of its massive reach, unique creative voice and insanely powerful community makes it a perfect match for Fullscreen."

Rooster Teeth, based in Austin, Texas, was founded in 2003 by Matt Hullum and Burnie Burns. The company has expanded beyond videos with music sales, merchandise, video games and its RTX annual convention, which last year drew 30,000 attendees. The company also recently raised $2.5 million on Indiegogo to produce a film called Lazer Team.

Otter Media, a joint venture between AT&T and The Chernin Group, in September acquired a majority stake in Los Angeles-based Fullscreen, one of the biggest multichannel networks with 50,000 content creators, 450 million subscribers and 4 billion monthly views. The Chernin Group is led by Peter Chernin, who founded the company in 2010 after leaving News Corp. as chief operating officer.

McCafferty & Co., an investment banking firm in Los Angeles led by Colin McCafferty, represented Rooster Teeth in the sale.