I think the following link addresses the points raised by both CE and jojo:
As to jojo's point, clearly the teams in this new conference won't get as many appearances as other conferences; however, they will still get more television exposure than the everyone outside of the big 5.
I think the link also supports two points I've made: (i) that people do in fact watch these teams; and, (ii) that the big 5 conferences have games that few people watch. Cincinnati and Boise, the two flagship programs for this new conference had respectable ratings for their televised games, ranging from 1.0 to 2.7. Granted, this is nowhere near the premier match ups from the power 5 conferences, but no one is claiming that this new conference stacks up with those guys. If you add in BYU, that's another team that can bring a respectable rating. Outside of the Pitt game, even USF did pretty well in its televised games.
Are these ratings on par with premier SEC matchups? Heck no. At the same time, they're hardly "ESPN 12" material. I know you don't care for these teams jojo, but I think these ratings show that at least some people do. There is some value in a media deal for this conference, especially since NBC is desperate for inventory and it's the only conference on the market right now. Will it approach anything remotely close to what even the ACC gets? No way. Then again, as the sixth best conference in college football, it will get the sixth best contract.
As to CE's point about the MAC, I think these ratings show just how terrible a move that would be for UC. The MAC championship game, which sent NIU to a BCS bowl, only garnered a .9 rating. No one cares about MAC football at all, and UC would destroy its football program if it joined up with the MAC. Even with the Cinderella story of NIU this year, no one really watched.
I think the best move for UC right now, if they can negotiate it, is to go all sports with the new C7 league, and go football only with the teams mentioned in the DeCourcy article. The C7 bball contract should be fairly lucrative, and they can add icing to the cake with the new football conference. In the mean time, keep winning, upgrade facilities, and see where you land when realignment crops up again.