They do have different edits for the theater, home video, airplane viewing, and television.
In the theater they try to make the film around 2 hours, because that's about how long people can sit and watch a movie with a giant cup of soda.
So, in home video, they often make changes because they can make a film longer because you can pause. So they might put deleted scenes that contribute to continuity.
On an airplane they have to take out any scenes involving an airplane crashing or suggesting possible malfunctions with an aircraft.
On television, they have to shorten a movie and cut it up in specific places for advertisements.
Sometimes they will release the extended directors cut, which can be 3 or 4 hours long, and contains all the scenes that the director wants in the film. I hear in reality the directors can leave it as long as 10 to 11 hours, but I've never heard of them releasing a directors cut that long.