Discovery Inc. will establish a European operational headquarters in the Netherlands, Bloomberg News reported, citing a company statement.

The company is also applying for broadcasting licenses in the Netherlands in preparation of a potential no-deal Brexit.

The U.S. media company, which owns stakes in Uktv Media Ltd., All3Media Ltd. and Play Sports Group, will retain a huge part of its operations, as well as licenses for 16 of its channels, in the U.K. Discovery has renewed the lease for its office in West London, which has about 1,000 employees.

The U.K.'s tech industry has recently called for the government to back the country's latest withdrawal agreement to leave the European Union.