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Pac-10 college football fans rejoice!

The New York Times reported today that the conference struck a goldmine television deal with Fox and ESPN. Not only is the Pac-10 creating its own cable network next year, but it's retaining full ownership, instead of sharing like other conferences do.

Fox and ESPN will pay some $3 billion over 12 years to air the games. The previous deal was a quarter of that.

Follow Tess Vigeland at @tessvigeland