As reported by The Athletic, in response to Texas and Oklahoma joining the SEC, the B1G, the PAC-12, and the ACC are “engaging in high-level discussions about an athletic alliance”.
PAC-12 commissioner George Kliavkoff, ACC commissioner Jim Philips, and B1G commissioner Barry Alvarez Kevin Warren have apparently been in regular communication, and have also had some in-person talks. The discussions have centered around football scheduling, but have also entertained broader cooperation. Notably, the Big 12 does not seem to be a part of this pending anti-SEC alliance.
According to The Athletic, sources in the PAC-12, the ACC, and the B1G suggest that the ultimate goal is alignment to allow all three conferences to vote together as a bloc on such issues as the CFP expansion and upcoming NCAA governance changes.