End of Ownership— Canadian iTunes

When you buy a movie on iTunes, it’s yours forever, until such a time as when Apple maybe loses the rights to distribute it, and then it will disappear from your library without a trace. This is what happened to Anders G. da Silva …¹

Technically, Apple did not reach out and delete local copies (as has happened in the past), but rather withdrew the ability to download new copies if the user had not kept an earlier copy.