Gonna be fascinating to watch. I have a hard time believing any of the other conferences are going to be OK bringing Texas on board with the Longhorn Network intact. On the other hand, given the way the Pac-12 has set up their networks, if Texas is willing to make a few compromises, their network might be able to fit in to the larger Pac-12 Network plan.
If Texas is off the table and pursues being an independent, Oklahoma quickly becomes the big fish out there. Will politics dictate that Oklahoma has to be paired with Oklahoma State? Would the SEC want Oklahoma enough to accept also taking on Oklahoma State? I'm pretty sure the Pac-12 would take them given their limited options to expand further...
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