This would not end well for TU. My guess is what is left of the Big XII will pluck Boise, San Diego State, UH, Cinncinatti and UCF. If this sounds familiar, it is the old collapse of the Big XII-Big East mess that resulted in TU moving to the ACC. TU would need to, in my view, move West to the old MWC rather than stay with the ACC, particularly if SMU moves to the Big XII.
And OSU gets totally screwed by OU. I do not see the SEC taking OSU or the Pac XII taking OSU without OU. A more likely scenario is the Pac XII takes Texas and Tech.
I don't believe the story, in any event.