..and it's a school on this list: University of S. Florida.
It's not simply the university's decision. Most of the broadcast rights are 5-10 year contracts with promotion agencies obtained by low bid, and also in coordination with the conference (in the USF case, the American Athletic Conference). Some of those contracts include athletics, and also a wide variety of entertainment events, speakers, and coordinated things like fund-raisers (Susan G. Coleman, etc.). DUers would probably agree with some of those events and disagree with others - the agencies organize, promote, and generate as much revenue as possible that cover the costs. Profits go to appropriate places (some non-profits, athletic foundations, etc.) and are governed by a variety of state and federal laws.
Even then, the university administration has little control over decisions of the BOT (appointed by Rick Scott in this case) or the athletic foundation (usually independent) or the local sports authority who own the stadium (Tampa Bay Sports Authority; Bucs, Raymond James Stadium).
A percent of the proceeds come back to the university through the conference or bowl games, while the majority of the money comes from ticket sales or donations. The percent from broadcasts are not contracts in the direct control of universities - but a web of deals with a dozen companies and entities. Sometimes there are separate contracts for concessions, local vs national advertising, endorsements (athletic apparel), and travel. The radio network is just one more overlapping part of a complicated mess.
A few universities might have enough clout and independence to negotiate national network contracts (Notre Dame?), and many have so little coverage that it doesn't matter (there's no national audience or revenue in rural South Dakota), but most just go with whatever their contracted agency or conference has in place. The radio station or network that pick up particular games or conferences change from time to time and is controlled by the contracting agent. The networks go with demographics, advertisers, etc. that they think will generate money and make bids to broadcast to the promotion agencies of the school or conference.
At least that the story I heard...
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