College conferences and media companies are adapting to rapidly changing distribution landscapes. As the Mountain West begins a new era with revamped membership and media rights deals, it’s also launching a direct-to-consumer streaming platform designed to create new revenue opportunities for both the conference and its schools. Across the Atlantic, Comcast is betting on scale through a multibillion-dollar acquisition of ITV, creating one of the U.K.’s largest media businesses while setting up another closely scrutinized regulatory review.