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You are miles off. ESPN helped a key vendor to destroy not just one competitor (the Big East), but attempt to destroy another (the Big 10).
ESPN is in big trouble here. The problem with most anti-trust investigations is there usually isn't enough direct evidence of the illegal activity to warrant a conviction. Most successful anti-trust trials have a Mark Whitacre that is on the inside feeding the feds information. ESPN/ACC's problem could be that Maryland just decided to become Mark Whitacre. Who knows what memos they kept. They wouldn't put it all in the initial complaint. That initial complaint is just a tease for the ACC and ESPN to play ball.
The problem for the ESPN brass is that the allegations may cross into criminal anti-trust and price fixing behavior. There is no settlement for that. Federal prosecutors like sending executives to jail, and the prosecutions are generally straightforward and pretty easy. There is no Omerta in media and advertising. Most guys sing pretty quickly when faced with even the credible hint of jail time.
Antitrust prosecutions have been rare in recent decades and only proceed against political scapegoats. In this case, maybe Connecticut representatives would be on the side of an antitrust investigation, but representatives and senators from 40 other states would oppose it as disruptive to their ACC/B1G/SEC/Pac/B12 schools. There is no chance of congressional inquiries or executive branch antitrust investigations.