We now have the final word regarding the THQ auction. The only franchise going along with Volition to Koch Media is Saints Row. Volition’s other franchises like Red Faction, Summoner, and Freespace are being sold separately as Legacy IP at a later date along with the other THQ studios/franchises that didn’t get bids like Vigil/Darksiders. From developer tweets it looks like Volition will continue to operate in Champaign, IL and that Koch Media is extremely supportive and will be taking a hands off approach and letting the studio do what it does best.
As much as I enjoyed Saints Row: The Third, it took a lot of steps backwards from Saints Row 2 in regards to customization, story telling, city design, and also lacking basic mechanics like a missing day/night cycle, and mission replay. Volition developers have confirmed that these cut corners were mostly a symptom of an overly aggressive schedule and lack of manpower due to THQ financial troubles.
The fact that SRTT was such a successful and fantastic game despite these problems and obstacles is truly a testament to the incredibly talented people who worked on it. I am cautiously optimistic that Volition will now have the necessary time and resources with Koch Media to make Saints Row 4 a true classic, despite my previous reservations regarding Deep Silver.