Saints Row developer Volition also allegedly had an opportunity to go private, but the deal fell through, per Bloomberg's Jason Schreier.
Saints Row and Red Faction developer Volition was shuttered by parent company Embracer Group in August.
However, publisher Deep Silver was reportedly not sold on the pitch, leading to the project becoming a franchise reboot.
With Volition having been closed with immediate effect, we take a look back at the history behind the studio and what eventually led to its unfortunate demise.
Saints Row and Red Faction developer Volition has been shuttered, but its two biggest IPs still seemingly have a future ahead of them.
Less than a year on from being shifted from Deep Silver's label to Gearbox, the studio has now been shuttered effective immediately.
Volition's reboot of the open-world series will reportedly be available for subscribers, per renowned leaker billbil-kun.
The DLC sees The Boss and the Saints defending The DustFaire from the Frostlanders in five new quests with new weapons and vehicles.
The open world title's PC version has been exclusive to the Epic Games Store since its release last year.
The open world title's third and final expansion will bring new story missions, a new open world district, and more.
The second of Saints Row's three planned DLCs brings four new playable characters, as well as a solo horde mode.
The paid DLC adds new campaign missions, Kaijuice wingsuit events, the Pain and Gain weapon, cosmetics, a new helicopter, and more.
Since its launch in August last year, the open world title has been available on PC exclusively via the Epic Games Store.
Out on May 9th with The Heist and The Hazardous expansion, it reduces enemy HP and dodging while improving the HUD and UI.
Volition has announced the release date for the first expansion coming to Saints Row.
The first expansion is The Heist and The Hazardous in May, which adds new campaign missions, weapons, vehicles, and cosmetics.
Embracer Group CEO Lars Wingefors has previously said Saints Row is unlikely to be as great a return on investments as previously anticipated.
Saves and Achievements will carry over into Re-Elected. Cross-platform play is also confirmed for Steam, Epic Games and GOG.
Embracer Group also confirms that the open world title has "performed in line with management expectations in the quarter."
The update adds a voice pitch slider, seven new garage locations, over 50 vehicle customization save slots, and much more.
