Capitalising on the potential requirement for UK businesses to have an EU presence once the country leaves the organisation, Ireland is already championing itself as a natural gateway to European markets.
The move follows decisions by Bank of America and Barclays to locate their EU-bound HQ in Ireland to enable them to guarantee continuity of operations under a so-called 'country of origin' license, which grants firms the right to trade across the continent if they are present in at least one of its constituent countries.
Martin Shanahan, head of Ireland’s Industrial Development Authority explained: “The likes of Discovery, Turner – they are all potential movers. We are going to be starting conversations with some of these organisations in the near future.”
The rules make clear that any overseas presence must be a ‘substantial’ one, ruling out a mere brass plate and with demands that important editorial functions such as commissioning editors and schedulers must move with them.
London currently serves as Europe’s defacto broadcasting hub with the likes of Al Jazeera, Disney and Viacom broadcasting as many as 1,400 channels.
Calls to reverse the Brexit decision have led to the formation of a new political grouping, Best for Britain, which aims to mount an advertising blitz to encourage leavers to change their minds.