The Big 12 and Pac-12 have ended talks about a partnership, according to a Monday night report from ESPN college football insider Pete Thamel.

Thamel spoke to sources from both conferences who are not named in the article. A Big 12 source told Thamel that the Pac-12 laid out 3 options: pooling rights, a scheduling concept or fully combining the leagues. The same source said that a full merger was the only scenario that would have driven value for the conference. The Big 12 reportedly considered the option over the weekend but decided not to explore it further.

The Big 12 is reportedly interested in a handful of the remaining Pac-12 schools. Thamel reports that the Big 12 has used backchannels to look into the potential additions of Arizona, Arizona State, Utah and Colorado. The interest, however, does not appear to be mutual. Thamel’s Pac-12 source, however, says the Big 12’s media situation means Pac-12 schools are not looking to leave for the Big 12:

“Because the Big 12 media rights can’t be negotiated until 2024, Pac-12 schools have no motivation to join the Big 12,” said a Pac-12 source. “The Pac-12 has announced that they’re staying together and are in the middle of media rights negotiations.”

Thamel also provides an update on a reported potential broadcast partnership between the ACC and Pac-12. It was reported that ESPN’s ACC Network would have potentially carried Pac-12 games, possibly under a different name, to west coast audiences. That partnership, however, financially “projects to underwhelm,” per Thamel.

The college football community will continue to watch to see if a third power conference emerges from the latest round of realignment.