Is it really a surprise that a league formed solely because of TV money is now being decimated for the very same reason? Most of the schools in the Big 12 have been looking out for #1 the whole time. Couple that with the ridiculous "needing 9 votes to change anything" bylaw and it's a recipe for disaster.
The previous honcho (Weiberg) tried to get a Big 12 Network started. The schools voted it down. What happened to him? He said **** this, Went to the Big Ten and oversaw the formation of the BTN. Now, he's in the administration of the Pac-10.