Disney can decide to terminate that license but the disc is another story. The license is for the media on the disc but the physical disc itself is owned by the person who bought it. This is literally why a company can remove a show or movie or song from your digital library. The license holder can always revoke the license. It was harder to enforce with physical media (and cost prohibitive in a lot of cases), but still possible.
No, they canβt Google first sale doctrine.
They can remove shit from your digital library because in page 76 of the terms and conditions that you didnβt read, they redefined the word purchase to mean temporarily rent.
Itβs the same licensing agreement. I phrased what I said to specifically adhere to what they say in their own terms of use in accordance with FCC regulation.
https://disneytermsofuse.com/english/
If you were to, say in 1990, get caught broadcasting your copy of a Disney movie without the legal ability to do so, they could absolutely use the court system to revoke your right to the licensed copy of that media and have it confiscated.
