SportsBusiness Journal has the story: http://www.sportsbusinessdaily.com/Journal/Issues/2013/01/14/Colleges/AC....
A successful television network would be one major way the ACC could keep up financially with the B1G, Pac-12, and SEC.
ESPN would have to give the ACC its blessing, and probably be a partner on any network, since they own the league's media rights for the foreseeable future.
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