A rumor on a blog earlier today has just been confirmed by Colorado’s Athletic Director.
I’ve been 100% deadset against my PAC-10 expanding and doing a Conference Championship game. This is the first proposal I’ve seen that I actually find a bit intriguing. I like the idea of keeping the 8 “PAC” teams in the same conference. The PAC-10 keeps most of their rivalries, and the Big XII gets to keep their’s (Do the Arizona teams really have any rivalries other than each other?). Start their own TV network, $20 million per team per year.
As usual, Texas is going to be the major player. They’ve been pushing for their own network and would obviously be hesitant to share if they don’t have to.
That and I worry they’ll vote my Cougs out of the conference. 
CU is in! Texas teams to talk until tomorrow.
As a CU alum living in LA, I’m happy. It’s sad to see the great Big8/Big12 go out in such a state but things don’t stay the same forever.
As was mentioned in the other thread (I think) the great Big XII was merely a marriage of convenience brought on by the collapse of the old SWC. This is just another ripple from that cataclysm.
Here’s the 6-month long thread where this is all being discussed.