By all appearances, the Big 12 is dead. Nebraska is likely, probably, most definitely headed to the Big Ten/Eleven/Twelve. Colorado has been accepted as the 11th member of the Pac 10 already. And behind that will likely go Texas, OU, OSU, Texas A&M and Texas Tech.
None of this is official yet. But it's a case of we don't know, but we know, you know?