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It has to do with syndication rights.
Companies spend a lot of money buying foreign content to either re-transmit or re-produce the media in other countries. So they won't tread on that region if it's sold to someone.
For example I can't watch any of MTV.com's music videos at all, as they're posted on GFY sometimes. If it were from MTV.com.au I'd probably be able to see it being that I'm from AU.
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