I'm not saying it will happen but there is a fair amount of fan base in both Nebraska & Arkansas that wouldn't mind competing in the Big 12. Those two additions would make the Big 12 a really good league.
I think both Nebraska & Arkansas would do better in the Big 12 than their current leagues. Even if the tv money would be a little less with success comes better fundraising which could offset the difference if it was small.
I think if Nebraska is to do better in the B1G the league would need to do divisions something more like
Div A: PSU, Neb., Ia., Md., Rutgers, Wisconsin, Illinois
Div B: OSU, Mich., MSU, Mn., Northwestern, Indiana, Purdue
Nebraska needs more access to the states in the league that have more recruits. The problem is PSU wants to play OSU every year which maybe that game could be protected. The other issue is the PSU vs OSU/Mich. have both been monster ratings games each year (some of the highest in CFB) and I don't see the B1G wanting to interrupt that.