Per the Las Vegas Review Journal:
Commissioners from the Mountain West Conference and Conference USA are scheduled to meet with the head of the Big East Conference on Wednesday to discuss the formation of one 28- to 32-football team super conference to try to gain automatic Bowl Championship Series status.
The Mountain West and Conference USA already have agreed to merge by either next year or in 2013. The Big East has automatic BCS status, but is in danger of losing it after 2013 and has been exploring adding teams from the Mountain West and Conference USA in an attempt to salvage it. But the two Mountain West members face hefty exit fees should they leave -- Boise State up to $21 million and Air Force up to $9.6 million -- that could dissuade them from jumping to the Big East.
Read the whole article here.