I can see Freedom Group looking to snap up Colt. Sadly that might actually improve things. Apparently Colt's problems were mostly bad financial management, but even from a consumer perspective they haven't innovated. The last really "new" thing they released was the M4, they don't sell remakes of their historic classics aside from the peacemaker, their 1911s are overpiced, and they have no real entry into the concealed carry market and don't make any polymer framed pistols.
Sure they reintroduced the ancient Colt Mustang, but Sig beat them to that punch with the P238 years ago, and the P238 is IMO far superior to the mustang in terms of design.