If carriage fee is still a thing, I don't see how it will be going forward.I don't think Oregon is in the Big10's top 2 among remaining Pac12 schools.
With Big10 expansion over the last decade we have seen that market size matters as the BTN (Fox) can charge in-market carriage fees. Cal or Stanford bring the San Fran market (6th largest DMA), which is more valuable than adding Portland (#21).
Also if there are any legs to Newsom's complaint about UCLA going to Big10, adding Cal would eliminate that issue. If the Big10 can add Rutgers, it will bend over backwards to add Cal.
I had also read an article that the Big10 may be able to collect a higher in-market carriage fee if they are the dominate conference in both LA & SF. Might also be able to extend that higher carriage fee to SD DMA.
For example, a vast majority of subscribers, even in Madison, don't care and don't want to pay for BTN and are moving off that service, anyway
New world.