Conference Realignment: Oklahoma And Texas Can Explore Leaving Big 12

The Board of Regents of the Oklahoma Sooners and Texas Longhorns have given permission to their respective university presidents to explore a change in conference affiliation.  From SB Nation.com:

Now that the Oklahoma Board of Regents has given its President the go-ahead to talk with the Pac-12, the Texas Board of Regents has gone ahead and done the same thing.

Texas Longhorns President Bill Powers now has the official authority to take "any necessary actions" regarding conference realignment. Ultimately, any change in UT's conference affiliation would be to be approved by the Board of Regents as well.

This move was apparently not unexpected by the Big 12 leadership, and the latest rumor is that there is action in the works already:

Beebe's not kidding about the Big 12 anticipating this move. The latest rumor is that the remaining members of the conference will meet up with the remaining members of the Big East and form some kind of merged hybrid.

The Big 12 and Big East, living together.  Sounds vaguely Ghostbuster-ish.  A sign of the apocalypse, I'm sure.