The aim of this paper is to examine semantic, pragmatic and cognitive aspects of language representation of Brexit in media discourse. Analysis of media headlines made it possible to conclude that lexeme Brexit which is viewed as a means of conceptualising and encoding extra-linguistic experience forms a pragmatic and communicative focus of the utterance. It reflects the trend for language economy and expressiveness which are typical of media discourse. Semantic mechanisms of derivation reflect the process of cognition, evaluation and conceptualization of political and social experience.