Localization doesn't just refer to translation but more importantly to distribution rights. Even the publisher can't give away distribution rights in regions where they previously already promised exclusivity.

This is the anachronism that results in paradoxical situations like being able to only offer Lord of the Rings part 1 and 3 but not part 2 because some obscure TV channel has the exclusive rights in your country for the next five years.

I wouldn't be surprised if for lots of the content like this the UK is actually in the worst group.

The example that is currently annoying me: Sky has an exclusive deal with HBO for some of their shows, so I can't legally watch some of the best TV currently being made without paying for a mountain of other stuff I'll never watch.