Along with the expansion that has been going on around the Big 12, the conference was also rumored to be looking at a big media deal several months back. According to a tweet from ESPN's Brett McMurphy, the Big 12 will soon announce that the large media deal will be signed with ESPN/ABC and Fox.
Big 12, ABC/ESPN & Fox will announce 13-year media rights deal Friday worth $2.6B, worth $20M per school, sources told @espn— Brett McMurphy (@McMurphyESPN) September 6, 2012
The multibillion-dollar deal had been reportedly in the works and agreed upon as far back as late June or early July. Earlier in the year, the Big 12 signed a deal that will extend the media rights of the schools to the conference for another 13 years.
The conference signed a 13-year deal with Fox Sports Media Group in April 2011 that ensured every Big 12 football game would be shown on either Fox or an ABC/ESPN network prior to the expansion that brought the TCU Horned Frogs and West Virginia Mountaineers to the conference.