Pac-10 Creating Its Own Cable Network

Kevork Djansezian/Getty Images

The conference agrees to 12-year, $2.7 billion deal with Fox and ESPN.

The Pacific Ten conference will start its own television network in 2012 and has negotiated a 12-year, $2.7 billion deal with Fox and ESPN for its marquee football and basketball matchups.

The Pac-10 will retain full ownership of its network in what is the richest conference deal ever according to the New York Times. (In a similar deal struck in 2007, the Big Ten conference began its own network and partnered with ESPN, however, its Big Ten channel is 49-percent owned by Fox Cable Networks.)

The conference is expected to officially announce the deal at a Phoenix news conference Wednesday.

Some particulars of the agreement, as reported by the Associated Press: Fox and ESPN will split the rights to college football games; ESPN will air its games on cable as well as ABC; Fox will show its games on its broadcast network, basic cable network FX and on the Fox Sports Net regional networks.

Men's basketball games will be split mostly between ESPN and Fox Sports Net. Fox and ESPN will alternate showing the Pac-12 football championship game and the men's basketball tournament.