I would wager TV networks really only want a few teams in a division. The strong teams and those doing well. In the PAC 12 it is USC and maybe some rivalry games. And the TV network would much rather give $45-50 million to USC only then the $250 million to the entire conference. So they make a deal with USC for that much and give far less to the remaining teams. Not the redistribution you suggested. PAC 12 minus USC will take far less then $250-50. Maybe $150 million. PAC12 prob won't have alot of other offers. UCS is happy and ESPN/FOX saves some needed money.

Now USC makes what it brings to the table, and it will also keep all their bowl earnings. But your right the security of a conference makes them stay. The option to broadcast their crappy opponent (non national televised) games by a conference network makes them stay. But if they could ensure scheduling, security in down years, and an ability to broadcast their games using their own equipment (LHN, BYUtv) they would go in a heart beat. So would Texas, Alabama, Ohio St, and Nebraska.

Something to think about. LSU made 4 million dollars to play BYU, thats more then most bowl games. If teams could make and keep 4-5 million a game, plus TV revenue, plus bowl game revenue all to themselves. They would! BYU has the right model. If they achieve success with it, conference affiliations will fade.