The results of the auction process which may see THQ dismantled piece by piece won't be released until later today - around 5pm GMT - but rumours are emerging that a number of key publishers have made moves for some of the firm's biggest properties.

SEGA is said to be the high bidder for Relic Entertainment, the team behind THQ's Company of Heroes and Dawn of War titles. Sources come from NeoGAF and mobile developer Tim Lewinson who Tweeted: "Hearing that the high bid for @Relicgames at the @THQ IP auction is *drumroll* @Sega."

Back in December SEGA announced it had secured a multi-year Warhammer deal, making Relic an ideal acquisition.

Koch Media, parent of Deep Silver (Dead Island), is reported to have gone in for Volition and presumably the Saints Row IP. Again, Lewinson seems to know what's going on.

"Also hearing that the high bid for @VolitionInc (and Saint's Row, assuming) is *drumroll* @KochMediaUK," he Tweeted.

An investor and Wired's GameLife have indicated that Obsidian's South Park: The Stick of Truth will go to Ubisoft.

"Rumour: South Park goes to Ubisoft," Tweeted GameLife editor Chris Kohler.

We'll have to wait until this evening for the complete story.