You have to think the PAC leftovers and Big 12 would look to combine, and it would seem to be easier to do under the PAC umbrella, as they still have more brand name schools.
New PAC-16?
Cal
Stanford
Oregon
Oregon St.
Washington
Washington St.
Utah
Colorado
Arizona
Arizona St.
Texas Tech
Baylor
Oklahoma St.
Kansas
Kansas St.
Iowa State
With condolences to West Virginia, TCU, Houston, Cinci, BYU and UCF, the above conference would be below the SEC and B1G in value, but still worth a considerable amount, and probably enough to keep them at the same table. The problem is unless they really lock in a long term deal, the SEC/B1G can still just pick them off.