A well written article from WVU site. I'm still not sure how they had a contract where Fox can just walk during their years.
https://247sports.com/college/west-...hts-shape-future-media-rights-deal-127908227/
After just two years and two highly successful events, the Big 12 may be shopping around broadcast rights to its conference championship football game. Sports Business Journal reported this week Fox, one of the Big 12's two television partners, has passed on televising the game in 2019, 2021 and 2023.
Suppose ESPN isn't interested in another $20 million commitment to the Big 12 or that the Big 12 isn't interested in a lower fee or, say, a Friday night time slot. A deal doesn't happen, and both Fox and ESPN pass. SBJ said the Big 12 can then negotiate with outsiders. That could be a network, though there aren't too many options left there. That could also be a streaming service, and, no there aren't too many options there now, either. But there is potential.