The problem with the LHN, and one I think we all agree on, is not that Texas gets the revenue, but what the content is.
I think content is a battle the rest of us can and will win.
However, as long as the LHN abides by those content rules, I (and I think most Big 12 ADs) couldn't care less about Texas keeping that money. That money isn't holding us back.
There is one important thing that you did not mention. Texas is fertile recruiting ground for ISU and most teams in the B12. All of these teams fear being shutout because of unfair coverage by the LHN. OU, who has the most to lose, fears this the most.
I do agree with you about the money aspect (although others do disagree with that) but I do not agree that this is easily solvable. First, if OU creates their network what then? Do the forgotten 5 create theirs? What about BYU and theirs. Since all will be interested in getting air time in Texas to get before the recruits and the large markets there, is there room for 5 different networks all covering B12 sports? All in the same state? And that is making a big assumption that ESPN will even allow the other networks to be seen in Texas; if they are, ESPN has likely signed up for a loosing deal for the next 20 years which is how long the contract goes. If 5 other networks steal viewers in Texas then ESPN over-paid for UT's tier 3 rights. So ESPN will try to keep the other networks out; just as the others will fight to try and and get in.
The whole thing is ugly. I think the LHN needs to morph into a B12 network. Since the state of Texas has more population than all other B12 areas and it was UT's idea to start the network I think it is fair that they continue to receive most of the money. Share 1-2 equally but if UT gets most (say 1/2) of the B12 networks dollars then that should be good enough for UT to compromise.
And here is the deal. I know this and every B12 school knows this. The fact that they REFUSE to compromise is what is continuing to self destruct this conference. MU is a prime example; they are worried that a few years down the road UT will bolt and leave them hanging. Why wouldn't they think that way? If UT wanted to stay in the B12 and be a team player then they would compromise. MU's conclusion: they are not compromising because they want to be able to bail on the B12 at some point in the future and take the LHN with them. The LHN gives them the economic might to go it alone. Rational? You bet.
If UT wants to get the trust of the other B12 schools then need to back down on the LHN ... NOW and quit dicking around.
I was going to suggest the following but I knew it wouldn't be popular: instead of printing t-shirts saying "Beat Texas" we should have printed t-shirts saying "Boot Texas" with the following intent: if you refuse to compromise on the LHN network then the remaining schools can only conclude you have no interested in long term stability of the B12. At some point of your choosing you will make your move and destroy what is left of the B12. Will it be 2 years, 4 years, or do you wait out the 6. We will all be sitting on a time bomb with most fans not even realizing it until the day the bombshell hits. Well I say, why wait. You don't want to be a partner in the B12? So get the **** out. We are giving you the boot and you wanted your ******* LHN, well you got it.
If the remainder of the B12 schools had enough balls they would have done this 2 years ago. Nebby wouldn't have left. CU wouldn't have left. OU wouldn't have threatened to leave. And now its MU's turn. What is it going to take for people to realize that UT is the problem and riding on their coat-tails to make more money is just whoring yourself out for money. I say, boot the ****ers out and let the rest of the B12 move on without them. Its better than being a *****.