"We are pleased to have Nebraska as Penn State's annual crossover game," athletic director Tim Curley said in a statement. "We have had outstanding contests with Nebraska in the past and look forward to hosting the Cornhuskers."
In one of the as-yet-unnamed divisions, Penn State was joined by Ohio State, Wisconsin, Illinois, Purdue, and Indiana. The other division sports Michigan, Michigan State, Nebraska, Iowa, Minnesota, and Northwestern.
Most predictions about the new alignment had Michigan and Michigan State with Penn State, and Wisconsin and Nebraska with teams in the western half of the league.
However, conference commissioner Jim Delany, who made the announcement nationally on the Big Ten Network, said competitive equality was the most important factor in establishing the two divisions.
"We wanted each player, each coach, each fan base, and the media to look at these divisions and say they're equally tough," Delany said. "This is an opportunity to play in the Big Ten championship game and win a berth either in the Rose Bowl or in the national championship game, so we thought competitive equality was No. 1."
Under terms of the new alignment, the eight conference games will consist of games against each member of a team's own division (a total of five), the crossover game, and two games against teams in the other division. The Big Ten released team schedules for the 2011 and 2012 seasons.
Delany said conference athletic directors were exploring adding a ninth conference game in 2015.
Wednesday night's announcement put an end to speculation about what might happen to the Ohio State-Michigan rivalry, one of the best in college football, which dates back to 1935.