A company, as in a single entity, can set their terms. Companies that collude to fix wages get in trouble and is illegal. If you don't like them, go to another company. An employee, as a single entity, can set their terms of continued employment ("I want a raise") and if the company doesn't like...
I completely disagree that greed is the cause here. The real causes IMO are: 1. The audience will watch whatever POS show is broadcast. Most people watch TV by simply watching "the best of what is on" instead of some minimal threshhold of entertainment value where they would choose to turn...