Neil, can you link where you heard that? I have been following this closely, and no national reporter has said anything close to those lines. The no TV thing is very unlikely to happen IMO, because that will not just negatively affect PSU, but all B1G who are scheduled to play them. I don't see that happening at all. 5 year bowl ban, also seems extreme, it could happen, but my guess would be about 3 years. Scholarship reductions seem to be a given. I would guess also some sort of tax or fee to go to a charity supporting victims of this type of crime. They could also force PSU to only play conference games and cancel out of conference games for a period of time (ala Baylor basketball in the 90s).
The big thing for Iowa and other B1G members will be that they will likely allow current players to transfer immediately. Someone needs to talk to Silas Redd and let him know about the gaping hole we have in the backfield right now.
There could be another big penalty of some kind, because all reports are calling this "unprecedented" and "PSU may wish they got the death penalty". So it's got to be bad. Also latest reports are that PSU agreed to these penalties and will not appeal.