Rooster Teeth, a popular animation, comedy and gaming studio owned by Warner Bros. Discovery, is being shut down after 21 years.

“Since inheriting ownership and control of Rooster Teeth from AT&T following its acquisition of TimeWarner, Warner Bros. Discovery continued its investment in our company, content and community. It’s with a heavy heart I announce that Rooster Teeth is shutting down due to challenges facing digital media resulting from fundamental shifts in consumer behavior and monetization across platforms, advertising, and patronage,” wrote Jordan Levin, the general manager of Rooster Teeth, according to Hollywood Reporter.

The Roost Podcast Network, which has over 80 episodes, will still be in operation. Additional IP such as Red vs Blue, RWBY and Gen:LOCK, “remain in discussion,” the company said.

What is Rooster Teeth famous for?

The company is headquartered in Austin, Texas. Founded in 2003 by Burnie Burns, Matt Hullum, Geoff Ramsey, Jason Saldaña, Gus Sorola, and Joel Heyman, the company began with the launch of Red vs. Blue, a web series based on Halo, a video game. Eventually, the company became famous for live-action shorts, comedy series, video-game development, as well as podcasts on food, fandom, lifestyle etc. The YouTube channel of Rooster Teeth has over 9 million subscribers. It has garnered billions of views.

It has been reported that the company being shut down could lead to the layoff of roughly 150 staffers. Other contractors and creators will also lose their jobs. WBD is now looking to sell its associated assets, including The RT Podcast, Anthony Padilla’s I Spent a Day With…, The Kinda Funny Podcast, as well as the podcast for the DC Max series Peacemaker.

“Warner Bros. Discovery thanks Rooster Teeth’s groundbreaking creators and partners, and the strong management team, for their many years of success. Your passionate and loyal fans are testament to your achievements,” Warner Bros. Discovery said in a statement.