http://www.statesman.com/blogs/content/shared-gen/blogs/austin/highereducation/entries/2011/01/19/ut_espn_reach_20year_300_milli.html
The University of Texas has struck a 20-year, $300 million deal with ESPN for a new, 24-hour network that will broadcast Longhorn sports and some non-athletic content such as campus musical performances.
They'll get their share of the B12 moneys which will be anywhere from 15-20 million and now an estimated 12.5 million from Bevo TV. But what this really does is weaken the B12 TV deal next time it is negotiated. ESPN will already have the rights to Texas and besides OU there really isn't a TV draw left. This will totally screw the B12 and any chance they could have a B12 network. This is why they wouldn't sign their TV rights over to the B12. I look for them to go independent in the next 2-5 years now and screw the B12 even more.
I hope KU's talks with the Big East continue and they get to say "see ya" on their own terms.