Supposedly this is pretty solid as far as expansion rumors go: the Pac-10 will seriously consider inviting Texas, Texas A&M, Texas Tech, Oklahoma, Oklahoma State, and Colorado into the fold this weekend. Supposedly Fox would then organize a Pac-16 Network in the same way it did for the Big Ten. Presumably if this happened, the Big Ten would finally get around to inviting Nebraska and/or Missouri and who knows which Big East teams.
Apparently the only hangup is A&M, which reportedly is more interested in the going to the SEC should the Big 12 die. The SEC would then have to invite at least one ACC team to bring on the Aggies (because 13-team conferences don't work).
We just finished the SEC meetings and no one seemed interested in expansion. Should these dominoes fall, I wonder if the conference would feel the need to go ahead with it anyway. I personally still say no: let the other guys play with thermite first and then decide later. It's not like even if the ACC added four Big East/CUSA teams the SEC couldn't take whoever it wanted.
UPDATE 6:37 PM
1. The ADs of Texas A&M and Oklahoma don't sound interested in killing the Big 12 preemptively. A&M guy specifically says he doesn't want to go to the Pac-10.
2. The 12 SEC presidents will discuss expansion tomorrow, but don't plan to be the first mover in the expansion game.
UPDATE 2, 6:45 PM
As of right now, this link will get you the whole article sans pay wall.
UPDATE 3 7:10 PM
Slive speaks. He won't comment on the report, but maintains that the SEC is looking at the matter of expansion actively.
Key quote: the current TV deals make the SEC the "most widely distributed conference in the country. … We don’t need to get larger for the purpose of distribution." So there you go, straight from the boss's mouth. You don't have to consider TV markets when talking SEC expansion.
UPDATE 4 9:00 PM
Where there's smoke...
The Colorado AD says that he and other school officials believes that six Big 12 schools will get Pac-10 invites as early as this weekend. He has not talked to Pac-10 officials, and Pac-10 commish Larry Scott has denied the report.
This to me sounds like either A) someone told this guy about the Rivals report and he's repeating that, or B) he's talked to the the same sources that led to the Rivals report. It's significant that a Big 12 AD is giving credence to this rumor in some respect, but this is far from confirmation if you ask me.