Gamespot link. There's a seven minute video and decent article on Gamespot but I'll try to provide a tl;dr. The next game is set between Borderlands 1 and 2 (hence the name "pre-sequel") and is being developed by 2k Australia. The most interesting thing is this is not a PS4/Xboxone game, this will be on the PS3/Xbox360/PC. The four playable characters are ones that have been seen before and include: Claptrap, Nisha (Sheriff of Lynchwood in BL2), Wilhelm (if the name sounds familiar, he's also from BL2 and was a big robot but is more of a cyborg in this game), and Athena (Crimson Lance member seen in BL1). The game's setting is Pandora's moon and there will be lower gravity and an oxygen meter, which introduces new mechanics and will come into effect when you're outside on the surface. Another new thing is a new type of ammo that allows you to freeze enemies. Game is expected to be out this fall.