Only thing about a BE network is that in the networks, it seems that football brings in the big audiences. And Big East football doesn't have that level of football. Plus, I'm not sure how strong the demand for the network would be in the Big East imprint (since cable companies choose to carry it or not); yes, the league has touch in Chicago, but it's DePaul. People barely go to games here. The league's best football is probably in Pitt or Cincy, and neither's a big market.
I bet they could get a network off the ground, but it def won't bring in as much money as any of the other networks or SEC's deal.