Shares of the company, helmed by media mogul Rupert Murdoch, fell 6 percent to $32.57 in extended trading on Wednesday. Fox expects a profit in “the mid $7 billion range” for the financial year ending June 2016, Chief Operating Officer Chase Carey said after the company reported quarterly results. Fox had previously forecast 2016 profit of about $8 billion. “We anticipate the industry trends impacting advertising will be slightly larger than previously expected, as both advertising and viewership continues to migrate to digital platforms,” Carey said on a conference call with analysts.