Why not just provide streaming versions for free, and insert new ads whenever they feel like it. It could even be like a website where a Person could find lots of different streaming video programs. I would use that in a heartbeat.
Sure, there are a few global brands that might buy in anyway, but the advertising would be less targeted and there would be less competition for the same slots, so rates would be significantly lower while costs would stay the same (or even be higher.)
All this is ignoring the myriad existing deals that the networks have with peers in other contries offering exclusive region-wide access to certain content. Working around this would be possible, but would result in numerous IP blocks anyway.