Anyone know if the folks in charge of this 'update' were paid, and how much?
That's the only reason I can think of for them to announce and hold a press conference about nothing.
The Big 12 had a press conference to end this thing because they had to. That's what happens when you make a big public spectacle of a process.
David Boren is first and foremost a politician. The problem is that the other Big 12 presidents don't seem to be first and foremost politicians. When Boren started his public rants a year ago, the other presidents needed to respond politically.
Instead, the other Big 12 presidents responded "academically", in that they cooperated with Boren's demands and started a very public search process that pretty much everybody knew would not result in expansion and ended up wasting a bunch of time and money for many parties.
The consulting firm that the Big 12 had hired previous to Boren's "psychologically disadvantaged" tirade had already done the research. The TV partners weren't on board. Most times, it's pretty tough the bully the folks paying the bills if you don't have any advantages over them.