Television firms may be forced to move parts of their operations abroad if the UK government fails to secure a Brexit trade deal.
That’s according to the Commercial Broadcasters Association (COBA) the UK’s body for international broadcasters, which speaks for media networks such as Eurosport, Disney and Discovery.
COBA has claimed thousands of jobs could be at stake should a ‘hard’ Brexit occur, where the UK leaves the EU with no formal agreement.
Executive director Adam Minns estimated that 25 per cent of jobs in UK broadcasting works – at least in part – on an international channel, with over £500 million spent on salaries, overheads and technology.
In a statement, COBA said: “No deal would jeopardise the UK’s status as Europe’s leading international broadcasting hub.
“International broadcasters based here would, reluctantly, be forced to restructure their European operations. No deal would put at risk thousands of jobs in the UK broadcasting sector, hundreds of millions of pounds of investment every year, and would undermine the sector’s long-term global competitiveness.
“Like many sectors, broadcasters cannot wait until the cliff edge of March 2019 to make decisions about the future of their European businesses.”