Is this really what the driving factor is for all these defections? Take a look:

Current Big 10
65 million people / 11 schools = 5.91 million per school
$154.2 million in TV revenue / 11 schools = 14.02
Population to TV Revenue Ratio = 2.37

Current SEC
50 million / 12 schools = 4.17 million per school.
$135 million in TV revenue / 12 schools = 11.25
Population to TV Revenue Ratio = 2.70

Current Big 12
46 million / 12 schools = 3.83 million per school
$103.1 million in TV revenue / 11 schools = 8.59
Population to TV Revenue Ratio = 2.24

Current PAC 10
51 mil / 10 schools = 5.1 mil per school
$80.1 million in TV revenue / 10 schools = 8.01
Population to TV Revenue Ratio = 1.57

Long story short, the Pac 10 is not good business. As you can see the SEC brings in the most revenue when compared to the population size and the Big 10 and Big 12 are closer than I expected. It is no wonder why the Pac 10 is trying to tap into the Big 12 TV market but why would Big 12 school listen? Top that off, PAC 10 doesn't share any football TV revenue at all leaving a even larger disparity than what we see in the Big 12.