It was actually to keep us from following through on the Pac-16 plan.
Anyway, ESPN doesn't have money to burn like they did five years ago. A Big 12 network without Texas is a total non-starter. There are just three major brands in this conference: Texas football, OU football, and KU basketball. A network for an entire conference backed by only three major brands across all sports would be weak; one with only the latter two just isn't happening, and especially not in the time of cord-cutting.
Anyway, ESPN doesn't have money to burn like they did five years ago. A Big 12 network without Texas is a total non-starter. There are just three major brands in this conference: Texas football, OU football, and KU basketball. A network for an entire conference backed by only three major brands across all sports would be weak; one with only the latter two just isn't happening, and especially not in the time of cord-cutting.