I think they didn't want to deal with ESPN, since they gave ESPN a take it or leave it offer of $380M for the third pick. I'm sure Fox had their hand in it. Also, they are at $1.2B. for the top 3 games and all the other media rights are only predicted to bring another $300M. You would think there would be more value in all the other games, which include all FB, BB, Baseball, and other sports. Shows how valuable the top teams in the conference are; so the 50% loss for the Big XII and PAC 12 from losing their top teams sounds very reasonable.