Resizing the TextLabel according to it's contents?

I have a chat GUI that, when someone chat's, a TextLabel is created in which will contain what the player said. Though, i would like that when each line that the text creates, it resizes the Y of the text box accordingly, so it doesn't have a static Y size and when the player chats a short message, there isn't a giant gap between each message.

Script:

wait(2)

chatBoxGui = script.Parent.ExampleGui
chatEvent = game.Workspace:WaitForChild("OnChatted")
receiveChat = game.Workspace:WaitForChild("SendChatToEveryone")
amountOfChats = 0
canChat = true

function CreateNewChat(args)
	local newChat = chatBoxGui:clone()
	newChat.Parent = script.Parent.Parent.Chats
	newChat.Position = UDim2.new(0,0,0,amountOfChats*50)
	newChat.Text = args[1]..": "..args[2]
	newChat.Visible = true
	amountOfChats = amountOfChats+1
end

receiveChat.OnClientEvent:connect(function (args)
	CreateNewChat(args)
end)

script.Parent.Parent.TextButton.MouseButton1Click:connect(function()
	if not canChat then return end
	canChat = false
	chatEvent:FireServer({game.Players.LocalPlayer.Name,script.Parent.Text})
	wait(2)
	canChat = true
end)