ENTERTAINMENT

Standard & Poor’s Upgrades Murdoch Debt: Standard & Poor’s raised its ratings on the subordinated debt of 20th Century Fox Film Corp. and Fox Television Stations Inc. to single-B from triple-C-plus. Both firms are owned by Rupert Murdoch’s News Corp. The action affects about $102 million in debt. Separately, a double-B-minus rating is assigned to News America Holdings Inc.’s $400 million in 12% senior notes, due in 2001. S&P; said the upgradings were due to recent undertakings by News Corp. to strengthen its balance sheet and restructure its debt.