The ESPN minimum is 4 games at $800K per game, but the range is $800K-$1.2MM. My understanding is that the $800K has been primarily paid on ESPNU games (BYU guarantees one game for ESPNU each season) and that ESPN2 and ESPN games are paid at or near that top rate of $1.2MM. Additionally, some brokered neutral site games have paid substantially more than the $1.2MM.
If you do the math, BYU is getting just shy of $6MM per season for football games from ESPN. In addition, we're getting around $1MM per season from the WCC deal and additional revenues from BYUtv broadcasts as well (a number that is growing at a healthy rate). BYU's overall media deal pays in the $8MM plus range per year.
In comparison, Boise, with their special MWC deal, is getting somewhere between $2-3MM for all their media rights from what I understand. That's a far cry less than what BYU is getting and the MWC isn't likely to see a big raise anytime soon.
AAC teams are getting somewhere in the neighborhood of $2MM per team for their media rights.
If BYU is worried about staying competitive financially in the brave new world of athletics, the answer certainly isn't found in a return to a G5 conference.