Broadcasting & Cable: Wall Street is waiting for 21st Century Fox to update its outlook for fiscal 2016. One analyst who has decided to stop waiting for the company has cut his earnings outlook for Rupert Murdoch’s media empire. Michael Nathanson of MoffettNathanson Research still rates Fox as a buy, but in a new report he says the company’s earnings will grow 9% in 2016, down from earlier estimates of 14% growth. Though the success with hit show “Empire” might indicate a turning point for the network, Nathanson expects Fox broadcasting’s ad revenue to be down 5% in 2016.