Ok folks,
Riddle me this? Why is it that when The University of Texas signed a deal with ESPN to create the Longhorn Network, everyone freaked out and two members of The Big 12 Conference jumped ship crying "No fair!"? But when Oklahoma (or, the little darlings of the Big 12 and Division 1 college football perennial underachievers) ink a deal with Fox Sports Southwest, it's okay. According to John E. Hoover, Sports Day DFW:
"To see the OU network -- or whatever it will be called -- OU fans can turn on Fox Sports Southwest, Fox Sports Oklahoma or another Fox Sports channel, then look for whatever Sooner programming might be scheduled around the network's other programming, which includes a vast menu of professional sports and other collegiate properties."
The pairing of OU and Fox Sports will only show 1000 hours of OU programming per year, compared to LHN with over 8000 hours per year. I argue this, if this network pairing between OU and Fox Sports will already be available to 10+ million people at the onset, then they are already going to be seen by far more viewers than The LHN, which can only be seen on Verizon and special regions of Texas. When OU's network begins they can be seen via cable or satellite throughout Texas, Oklahoma, Arkansas, and Louisiana. That is already a huge advantage for OU. As it stands now, cable companies would have to absorb what amounts to around 40 cents per customer to show LHN. Eventually, cable companies would have to raise their prices to carry the channel, and this is a lengthy process. 
The deal has yet to be finalized, and it is reported that the OU themed station complies with the Big 12's tier  rights, in that they get to keep money paid to them by Fox Sports, as does the LHN. Revenue sharing with the other schools in the Big 12 only occurs when games are shown on Tier 1 (over air) and Tier 2 (cable).
Currently, The University of Texas is paid 300 million by ESPN over 20 years, with UT allowed to show two games per year. However, when the network featuring OU airs in the fall, they have the advantage to show more first-run programs and less re-runs due to the fact that they only have 1000 hours per year with which to play. While this network will eventually be dwarfed by the LHN, the immediate disparity is obvious. Longhorn fans can't watch their own network, but will be able to flip on a TV and have OU rubbed in our faces. Hypocrites, much?