The broadcaster is in the very least entitled to share in this profit. In other words, I wonder if Aereo would be able to charge for the service if there was no content. Stupid question, right? But, the fact that the content is present means that by selling a redistribution service, they are in fact profiting from the content.
You can argue all you like that the business model established by the broadcast industry is antiquated and that they should just go away. Perhaps they will be dismantling their transmission facilities before too long. In the meantime, they are entitled to restrict the redistribution of the content they provide.