The PAC 12's current $3B media deal ($250M/year) was the highest in the history of college football at the time it was signed. But, it was a 12-year deal, set to expire after next season. The PAC 12 *would have* recalibrated to a better deal based on 2024 rates...
Even without USC and UCLA, the remaining PAC 10 still hold significant value, which has been estimated at $300M/year, which is more than the annual value of their existing $3B medial deal.