In this case, the fact that things are dragging on impossibly long indicates that the PAC isn't getting an offer from media partners that's in the realm they like, and vice versa.

If that's the case, it means the PAC is valuing their product well above what the actual market is. Sounds about right. If they were in each others' ballparks, they'd have worked out the small differences and consummated long ago.

Perhaps it's ego or just lack of...
research ability that will not allow conference members to come to reality that they're putting up something for which nobody wants to throw down. So every which possible area and insistence and tactic to get it is being exploited, to no avail so far.

Or perhaps it's more nuanced in that GK knows he needs to hit a certain figure to keep the conference together and his job. But nothing gets to that minimum number.

What's interesting is seeing the teams that unequivocally pronounce their undying love for the PAC (looking at you, yewts). This is a pretty good indication of who are the parasites of the conference. They'll stay with the conference no matter what happens with the media because they know their only other option is back to G5. For now, yewts can suck the blood of Oregon and Washington, but a G5 - including a conference sans OR and WA - has no teams to bring home the bacon.

If you're Oregon or Washington, you keep mum publicly to see if GK can pull the rabbit out of the hat for them. It's a conditional love, and GK is sweating bullets to get a deal that will make them stay. But it's hard with so many parasites sucking the profits.