The broadcast TV thing is tricky.  Any deal that is giving away 5 events a year for free is going to hurt their bottom line a lot if they don't get tremendous fees for it.  The events will have to be big name fights for Broadcast TV, and they'll probably take a big hit on PPV in the short run.  Any deal really needs to guarantee some sort of hype show for UFC events, needs to commit to promoting UFC PPV shows not actually on that channel, and needs to pay a lot.

I think it is completely understandable that Dana isn't going to turn his product over completely to CBS and just hope it turns out for the best.  They have built up an extremely profitable and successful fighting company, and the idea of turning it over to people that know almost nothing about mixed martial arts is crazy, especially considering the fact that he is doing so well without them.  It's not like they're in a position where they need a deal or they'll die.  

The key to UFC's success is that the fans see a fixed group of fighters, know their favorites, and get to see each fighting every few months.  The idea of a league with players you know coming up against each other is what sells in every sport.  There's a reason Sylvia/Fedor will bomb on PPV, and it's that nobody knows who Fedor is.

In a dream world, the mainstream press becomes educated about mixed martial arts, we get a "real" rankings system, and find out who the best in the world is.  Unfortunately that is not going to happen anytime soon, if ever, and for now the only company keeping MMA profitable and vibrant is Zuffa.