The Victors was cut from 175 minutes to 154 minutes during the first weeks of it's release. The shortened running time of the DVD is a consequence of the transfer to the PAL broadcast system adopted in Europe, Australia, and elsewhere, which results in the movie being displayed at 25 frames Per Second, rather than the original Cinema rate of 24 Frames Per Second. This standard applies to all movies transferred to VHS or DVD, or broadcast on television, in those regions. The result is an apparent loss of approximately two and a half minutes per hour.
North America and Japan use a system called NTSC, which broadcasts at 29.976 Frames Per Second. In these regions, instead of 'speeding up' the movie, broadcasters use a technique of duplicating frames to achieve the necessary frame rate during transmission. Because this is done using half frames the 'padding' is barely noticeable, and the movie retains it's original running time. DVD players from these regions do the 'padding' during playback, so the disk is capable of being played at the enhanced frame rate or the original frame rate.
The historical reason for these discrepancies lies in the need for broadcasters and manufacturers to tune their equipment to the mains frequencies of the different regions (50Hz in Europe, 60 Hz in North America). The microprocessor age has seen the widespread introduction of consumer equipment adaptable to multiple standards, so Blu-Ray transfers automatically preserve the original frame rates.