<ARTICLE> 5 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-START> JAN-01-1998 <PERIOD-END> JUN-30-1998 <CASH> 804,285,000 <SECURITIES> 116,475,000 <RECEIVABLES> 114,278,000 <ALLOWANCES> (13,161,000) <INVENTORY> 0 <CURRENT-ASSETS> 249,488,000 <PP&E> 2,572,089,000 <DEPRECIATION> (292,453,000) <TOTAL-ASSETS> 4,163,828,000 <CURRENT-LIABILITIES> 1,022,652,000 <BONDS> 3,020,012,000 <PREFERRED-MANDATORY> 116,086,000 <PREFERRED> 0 <COMMON> 413,000 <OTHER-SE> (66,932,000) <TOTAL-LIABILITY-AND-EQUITY> 4,163,828,000 <SALES> 0 <TOTAL-REVENUES> 302,106,000 <CGS> 0 <TOTAL-COSTS> 155,354,000 <OTHER-EXPENSES> 133,812,000 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 141,622,000 <INCOME-PRETAX> (197,974,000) <INCOME-TAX> 0 <INCOME-CONTINUING> (197,974,000) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (197,974,000) <EPS-PRIMARY> (5.79) <EPS-DILUTED> (5.79)