Unless I've misread something...Also saw similar stories on other sites.

Taken from the article in the link:

• Third-tier jump: The way the TV deals in the Big 12 are structured is such that each individual school gets to keep its third-tier rights, and the Big 12 is the only conference that is constructed this way. Or was constructed this way.

What are third-tier rights? Think non-football and non-basketball sports and a handful of basketball games and maybe a football game every year. For Texas, this is a windfall. For OU, too. For Oklahoma State? It’s not the $5M+ the Sooners are getting, but it certainly bumps that number closer to or over $40M.

Even more intriguing is that it seems those third-tier rights have been shipped off to ESPN+ for the foreseeable future for $40 million over the next six years. In addition to the third-tier rights, ESPN will also get the three Big 12 title games it didn’t already own over the course of the next six years.

In addition, eight of the 10 schools in the league will ship hundreds of games across multiple sports to ESPN+ beginning this year, including one regular-season football game, as well as men’s and women’s basketball, baseball, softball, soccer and volleyball games.

Texas will keep its rights on the ESPN-owned Longhorn Network. Oklahoma’s rights will remain with Fox Sports, as part of a previous deal. Both schools, however, will be featured on ESPN+ as road teams. [ESPN]

There’s more.

The Big 12 wanted around $20 million for each [conference championship] game. ESPN wanted to pay much less. It became clear pretty quickly that they couldn’t come to terms on money, so they had to get more creative.

That’s where streaming rights came into play. ESPN had embarked on a strategy of buying as many rights as it could for ESPN+. It was particularly interested in college sports, believing that schools’ rabid fans are more likely to buy a $5 monthly subscription to the streaming service. [Sports Business Daily]

Lastly.

It’s notable that ESPN only wound up paying $40 million for this deal, which would be $13.33 million per conference championship game without even considering the value of the streaming content they’re adding. So that’s not close to what the Big 12 wanted, but they didn’t have a ton of options after Fox said they didn’t want the championship games at the price the Big 12 was asking.

And this streaming deal got the Big 12 more money than just the championship games alone would have, and kept the average they’re receiving across the next six championship games at $22 million (back in 2016, ESPN agreed to pay the conference $30 million a game for the four even-year games from 2018-2024, including the 2018 one seen at top). [Awful Announcing]

Essentially, ESPN needed content for ESPN+, and the Big 12 saw an opportunity to make its schools an additional $4 million each over the next six years (depending on whether OU and Texas are included in that $40M number).

This agreement starts for OSU in the upcoming year, and its effects are already being seen. The Pokes’ second game against McNeese State will only be available to those who are subscribed to ESPN+ at the cost of $5/month.

So that’s interesting. All of this is interesting to me though. I always stand fascinated at the intersection of media and college sports. For Oklahoma State, being in the Big 12 over the last few years has probably been the best combination of quality branding and financial thriving it could possibly have realized. It is a league that is healthy and seemingly moving in the right direction.

And while it doesn’t have the gigantic reach of a Big Ten or a SEC in terms of cash flow, it’s sitting far ahead of where it is perceived to be sitting at the Power 5 table. And that, as WVU president Gorgon Gee noted recently, is a nice place to be.

“Money is not the most important thing,” Gee told the Dallas Morning News, “but it’s certainly ahead of what’s in second place.”

Another link / content:

https://www.cbssports.com/college-football/news/new-rights-deal-gets-big-12-as-close-as-possible-to-its-own-network-with-football-title-games-on-espn/

Eight of the 10 schools are ceding their eights on a "rolling basis" over the next few years. Texas (Longhorn Network) and Oklahoma (Fox Sports Southwest) have existing long-term agreements for their third-tier rights. Those schools will be shown as road teams in the package.

ESPN gets the rights to eight of the 10 "member-retained" football games in the conference. Those are typically nonconference games controlled by the school. Last year, Oklahoma showed its Army game on a pay-per-view basis. Texas controls its rights to those games under the Longhorn Network.

The deal will include one football game on the streaming platform as well as "any" spring football games and all regular-season and exhibition men's basketball games not distributed on ESPN's linear cable channel. That could include up to 75 games per year.