From what I can remember it went something like this.
Fox thought that because it was another Matt Groening cartoon they would have another Simpsons on their hands. The thing is Futurama was not the Simpsons, infact it really wasn't anything like The Simpsons. Now I am not an American so I can;t debate with much accuracy the TV scheduling over there but from what I read FOX ended up sticking Futurama on after the Football. Now I am lead to believe that Football can and does overrun which meant that a lot of people who wanted to watch Futurama would tune in to find guys to afraid to play Rugby on the screen instead of the show they wanted to watch.
In essence being that folk couldn't tell what time Futurama was on so it got lower viewing figures than it should have FOX saw that as Futurama = not very good, cancel it.
I am lead to believe that it's initial shift to after the football started the problems and FOXs constant movement of it's viewing times finished it off.
Back on topic, great news. Who couldn;'t see the actors were just holding out to see what they could get from FOX?