1. Who exactly owns Pac 12 Networks LLC?

"As the content arm of the Pac-12 Conference, Pac-12 Networks is the first and only sports media company owned by its 12 Universities. " from Pac12.com

Is that literally true-- is it owned in 12 equal shares by USC, WSU etc?
Or is that a bit of figurative speech and the ownership is held by the Pac 12 Conference.

2. Who exactly owns the on-campus Pac 12 Networks facilities?
I'm assured by the likes of Bob Thompson that the Pac 12 Networks on-campus game production facilities are top-notch. So if I understand it right, there are production facilities on each Pac 12 campus, probably in or adjacent to the athletic complex. Are those control rooms owned by the schools (very likely, I'd think) or just maybe possibly by Pac 12 Networks LLC? I found this about the ACC schools building these sorts of facilities for the ACC Network.

3. What exactly is the language in the contract establishing College Football Playoff LLC. The PAC-2 will be, technically and just barely a conference in the eyes of the NCAA. But will it qualify as an FBS conference by the terms of the CFP contract? Will it qualify as a Contract bowl conference -- they're going to lose all of their non-Rose Bowl tie-ins, and they'd be losing the Rose Bowl tie-in if the CFP weren't expanding to 12.