CBS has the right to charge for its retransmission consent but the law stipulates that the fees must be reasonable. However, left to themselves the parties have self-interest to decide what is reasonable. The 1992 law gives the FCC the power to intervene on what is reasonable link here but it has so far avoided taking a position.
CBS has now upped its pressure and limited its over-the-air broadcasts in some areas served by TWC. The public pays in lost services and will pay again with higher charges.