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Big 12 Network never got off the ground
The service providers don't make money on how many people tune in, they make money on how many people have to purchase their packages. It's how Maryland became and option for the Big10, not because they were a good team, but because that got them a few quarters for every cable television subscriber in the DC to Baltimore region.
So for the providers they want large markets that they're not currently in, which is why teams like Colorado St, BYU, and Cinn are in the discussion.
For the teams, they want bodies. If they can pick up two new teams, they get another negotiating chip for their portion of the cable rights. It's a money option first.
Secondly it becomes about academics. Sports partnerships lead to academic partnerships. Which is why Texas and Oklahoma to the Big 10 were even floated, while Texas to the SEC was not. It would diminish their academic standing.
After that it's a mix of things, culture, recruiting (the big prize after Texas isn't more Texas, it's California), additional sports (Big 12 is pretty good at basketball), long term stability, voting power within the conference ... it goes on.
Houston is in consideration, and still may make the conference. But I gave you reasons why they weren't included initially, why they weren't in consideration after, and why they're not the first choices in the future. None of which is fear. ------
“There is no fate that cannot be surmounted by scorn.” -Albert Camus
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