[ElGringo]

Yes it would be similar, but different in you are not a part of the conference or school. The other thing I did notice in the article was
"The financial setup is different from traditional television contracts, in which networks pay a flat fee for broadcast rights. In the Big Sky contract, the schools keep the rights and provide feeds to SportsCast, which processes the video for viewing online."
Basically, the school owns the broadcast, not you, and give the feeds to another company to broadcast.

EDIT: I have continued reading to learn some, if not all, also charge a fee to view this online, so the school is making money.