required by the conference for fans to see their favorite teams (even in their own footprint, let alone outside the conference boundaries) will cause consternation to the point of hitting a boiling point with fans, IMO.
In this economy, the required TV/internet deals (yes, plural) will be too costly for many fans. I think it turns out this way:
New season launches
TV revenues from paying subscribers drops below projections
TV execs meet with PAC12 officials to renegotiate (I'm assuming there is a subscriber level clause in "guaranteed payout amounts" to the conference. Anyone in the know on this?)
Guaranteed Payouts reduced based on actual subscriber data
Conferences approach each school with "fair share" of new pie
Utah get smaller share due to the fact that no one in the conference (outside the boundaries of SLC proper) cares to pay to see them play
Meanwhile CFB landscape changes, forming new relationships, new TV contracts etc.
Some key members of PAC12 tempted to flee (yeah, I understand that geography makes it tough to flee, but with enough money comes a lot of "we could probably make it happen, right?" kind of delusional thinking)
Yewts get screwed (or jettisoned)
BYU continues march into national picture as an independent via SOS and TV exposure. No longer feel the need to "continue" the rivalry now that the yewts desperately need it.
Life goes on with less chest thumping from annoying yewt fans (redundant, I know).