The recent B12 media deal nailed down the big stuff including football, men's basketball, and FB/BB conference tournaments, but left many smaller details to be worked out later. In general, Tier 3 rights belong to ESPN and each school "owes" 50 events to them across all sports. The details of how those 50 events are produced and broadcast and what happens to other events beyond your top 50 are cloudy at best.
I think you can look to BYU's current contract for a model of what might occur.
- ESPN and CBS will pick the football and men's basketball games they want (all FB and many BB) and they will produce and broadcast them through their channels. Ideally, the new contract will allow BYUtv to rebroadcast BYU home games produced by ESPN just like BYU's current ESPN contract.
- BYUtv will likely produce some of the lesser FB and BB games in the 50 events they "owe" to ESPN, e.g., non-conference games against lesser opponents. They'll also produce all or most of women's BB and Olympic sports among the 50; these games will be broadcast on ESPN+.
- BYUtv will produce and broadcast any games they want outside the top 50 just as they currently do. For example, men's volleyball isn't a Big12 sport (we'll continue to play in the MPSF) so BYUtv will continue to broadcast all home games.