The Big 12 is done for. This news just verifies the reality that no one wants any of those schools and the other conferences are looking to squeeze out additional mouths to feed. If anything, UT and OU helped cut 8 seats out of the table so there's more money to go around for the rest of the now P4.
I doubt any of the P4 will toss a life line to any of the remaining Big 12 schools as they bring nothing to the table except another mouth to feed. With this alliance, there's no incentive to add any of the remaining schools.
The only reason to possibly reach out to a school would be one of Texas Tech, Baylor, or TCU. This is ONLY because it gets a game in TX but none of those schools are worth anything so I just can't see it.....