It was an eventful year for the family of the man who turned FOX into a media empire. Rupert Murdoch stepped down from his role as CEO of 21st Century Fox in July, handing the reins to his son, James, while remaining executive chairman. It was an initiation by fire into the CEO role, as Fox suffered through the same late-2015 stock volatility as its Big Media rivals, thanks to market fears over the effects of cord-cutting on traditional television companies. Fox also faced a drop-off in revenue from its film unit after last year’s offerings failed to live up to the company’s blockbuster 2014. The company then kicked off the current year by offering voluntary buyouts as a means to cut $250 million from its film and TV units. The good news for Fox is that the film unit scored a surprise hit with the raunchy superhero Deadpool, while the company’s cable news networks have banked record ratings thanks to the political circus of the 2016 presidenital election cycle.
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