Sega was rumoured this morning to be eyeing up a purchase of Relic Entertainment in the run up to today's THQ auction. Wedbush Morgan analyst Michael Pachter has told VG247 that the deal makes sense and that Sega could probably net the studio for 'very little', as THQ has no way to pay the Dawn of War developer.
Speaking with VG247 this afternoon, I asked Pachter for his thoughts on Sega's potential purchase of Relic, to which he replied, "Sega can afford to buy Relic for very little, since in bankruptcy, THQ won't really be able to continue to pay the people. The studio can probably be kept together if Sega is willing to pay them fair wages, and Sega would essentially buy their work in progress on Warhammer (assuming Sega wants the license), Dawn of War, Company of Heroes, or whatever else they are working on.
"The 'value' is in the intellectual property, both work in process and characters, brands and so on. [Dawn of War and Company of Heroes] are probably worth a few million each, so Sega can probably buy Relic for $15 million or so. Yes, they can afford it."
Pachter added that it appeared as if both Ubisoft and Warner Bros. want Volition Inc. and the Saint's Row license.
We'll have more on the auction as it comes.