Yes, for fox the analysis would be can our paying 33%, theoretically, of UConn's big 12 pro rata share ($10M, roughly) be offset by the fact that the value of the big east conference drops if Connecticut is not a part of it? So right now Fox pays us roughly $4 million per year. The difference between what they pay for us now and what they would for pay us as a full share member of the big 12 is roughly $6 million ($10M-&4M). I think the answer to that is, probably.
Say conference rights for the big east with us in the conference is worth $8 million per team, but without us is worth $7 million per team, then it is more profitable for Fox to pay us their portion of a full share in the big 12 then to pay a premium for the entire big east conference in the next media deal. Also keep in mind that they also would have access to our football games, if they want them, which they don't currently have.