This is worth a read; it will clear up a lot of confusion:
Television numbers indicate the Pac-12 isn't necessarily in a weaker position than the Big 12.
theathletic.com
I'll try to attach the table of data for those who aren't Athletic subscribers.
I've read more about this stuff in the past three weeks than is good for me, mostly because I live in permanent low-level dread that TCU football will end up back in 1994 no matter how hard we try.
Here's what I think is going to happen, and what we're rooting for:
I expect nothing to happen this year now. I think the Pac 10 will sign no more than a 5-year TV deal with ESPN worth roughly what ACC schools make. We need to hope that Oregon and UW manipulate everyone into unequal revenue shares; that's a recipe for long-term discord. Then we need Notre Dame to sign a new deal with NBC to stay independent, and the Big 12 needs to negotiate a new rights deal that is better than what the Pac 10 has. Hopefully at some later date the Big 10 would pick off another Pac school or two, then we're in position to profit.
The danger with them surviving is that if Oregon and Washington ever come to understand that they'll never be in the Big 10, the Big 12 could be in trouble. The nightmare scenario might be if Notre Dame joined the Big 10 alongside Stanford, removing the main source of objection to the additions of schools like Tech/Oklahoma State (academics) and BYU/Baylor (religion)--Stanford is the worst snob on both of those. Leave Oregon behind and maybe they turn around, commit fully to the Pac-whatever, and absorb a bunch of schools that aren't TCU.
Conclusion: we need to win football games again; lots of them, soon.