Yes itll be divided into two six team divisions. I hope they go with a 'zipper' format like was bandied about some places but all the recent things Ive heard have point to a North and South division. I find it shocking the California schools would allow themselves to be split up like that, but maybe it'll happen.
Im hoping for a split like this:
Div A.......................Div B
Washington.............WAZZU
Oregon...................OSU
Cal.........................Stanford
UCLA......................USC
ASU.......................UA
CU.........................UU
With of course guaranteed games against your natural rival. It keeps the conferences strong secondary rivalries in tact (OU-Wash, Stanford-SC, Cal-UCLA), and keeps the conference from having one overly strong division in football (the South), gives all schools good access to the SoCal recruiting hotbed, etc.