LIV Golf on CW started around 500,000 viewers and then fell off a cliff.
But they did start at 500k which isn't awful awful.
So CW could be somewhat viable here for a college football channel
But it all comes down to straight cash, homie
500k for CFB would be low end but not disaster. ~20% lower but comparable to FS1, ESPN2, BTN.
That said, those games are still very low value to the network, my estimates for those are <$1M per game. Until you get to 1-2M viewers per game, there just isn't much incremental value.
If PAC wants money, they need to get more big games onto bigger networks in the better timeslots. And the bigger networks don't seem to have much interest, or timeslots available. They have to
hope streamers are willing to overpay vs historical linear. My amateur estimate for their number is still <$25M per team (higher if the PACN pays for production).