>Because the artist approves the bleep of their song, otherwise it would not get played on the radio and they would not get their royalty. It's probably part of the standard BMI language.
So if these companies only sold versions of movies that have already been on network TV or on airlines with "approved" cuts then it would be OK?
If by "these companies" you mean the ones who sell sanitized versions, the answer is "no". Not without permission of the owner of the copyright. If the owner chose to sell a "TV" version of the DVD, then people could buy it. Third parties can't sell it for you without permission. Nor could they copy it off TV and then sell it, sanitized or unsanitized.