You don't share the money equally between west and east. Pac-10 west (suggested name change) would actually shrink the pot because they wouldn't have to share their money with Utah or Colorado anymore. Pac-10 east would take nearly all of the Big 12 teams and would push the Pac-10 into the central time zone. It would allow them a foothold in Texas, Oklahoma and other central states. And it would allow them to bifurcate the more snobby elitist education/liberal schools/states into their own division. As it stands Pac 12 has no reason to steal a few schools from the Big 12 left overs, but to take them all could be good for them.
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