If Pitt and Syracuse jump to the ACC and OU and OK State head west, it'll force Texsucks to take action. They'll have three options. First, they can join a new league, likely the PAC. Second, they can try to recruit the Houstons of the world and hold a weakened Big 12 togther. Last, they can go independent. I'm sure those discussions are going on right now.
If Davy Crockett knew then what he posthumously knows now, he would have propped up his feet in Tennessee and let someone from Arkansas deal with it.
Only if they scrap or greatly modify the Longhorn Network. The PAC isn't going to let them have their own TV pot.
They will go independent for football and either join the WAC for the Olympic sports only or form their own conference with other u of texas system schools like UT-Arlington, UTEP, and some other non-u of texas schools. I don't see them giving up their network, although I read somewhere that their payout in a revamped Pac conference wouldn't be any or that much less than what they're getting from the LHN plus whatever the Big XII pays.