I'm guessing the smart people behind the Pac 10 and UT understand that Colorado is far more lucrative moneywise as an addition to the conference. The naysayers like to deride the market here as not big into CU. There is some truth to that, but what they fail to mention is that a big reason why is because of transplants...namely from Cali and Texas. So between CU fans, Texas school fans, and Cali school fans, I think the Denver market will be quite tuned in to a Pac 16 network.
That is what I hope the Pac10 folks realize. They will get a ton more TV sets with CU vs Washington in the Denver market compared to Washington vs Baylor in the Waco/Texas market... far more. And that would hold true for most of the Pac 10 schools. You can't walk around here without tripping over someone from Cali, Washington, or Texas.