Big 12 and Pac-12 merger could be pretty cool if the leagues were willing to get creative.
Four 5-school pods that rotate pairings to form 10-school divisions. You play your full division each season; you'd play every school every 3 years (annually for those in your pod), and you'd host every school in the conference every 6 years (in your pod, every other year).
Pod A
Washington
Washington State
Oregon
Oregon State
Colorado
Pod B
Cal
Stanford
USC
UCLA
Utah
Pod C
Texas Tech
TCU
Baylor
Arizona
Arizona State
Pod D
West Virginia
Iowa State
Kansas
Kansas State
Oklahoma State
And you pair the pods to form divisions. Year 1, Pods A/D are a division; year 2, pods A/C, year 3, pods A/B. CCG in Vegas at the Raiders stadium or in LA at the Rams/Chargers one.
20-game hoops schedule; play everyone once with one home-and-home; maybe every other year it's a rival (like KU vs. K-State) and then it rotates to try to be a splashy money game, like a KU vs. UCLA home and home.
Sign a big fat GOR to keep the Big Ten away. I'm sure WVU would want to triple check that the ACC isn't interested before signing on to the GOR.