hasn't been there the last decade)?
That is what undercut the current PAC12 network--there just aren't enough people who are willing to pay to watch that channel to support the revenue that the teams were hoping for. Unless there is a significant uptick in that interest, no TV deal will deliver anywhere near the revenue that they need it to (and that other power conferences can command).
That is the fundamental problem the PAC12 has--a sustained decline in fan support. And the trend on that is not headed in the right direction for that conference.