<ARTICLE> 5 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-START> JAN-01-1996 <PERIOD-END> JUN-30-1996 <CASH> 735,334,000 <SECURITIES> 0 <RECEIVABLES> 52,353,000 <ALLOWANCES> (2,590,000) <INVENTORY> 0 <CURRENT-ASSETS> 35,749,000 <PP&E> 1,018,544,000 <DEPRECIATION> (66,003,000) <TOTAL-ASSETS> 2,332,713,000 <CURRENT-LIABILITIES> 479,433,000 <BONDS> 1,575,657,000 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 306,000 <OTHER-SE> 255,432,000 <TOTAL-LIABILITY-AND-EQUITY> 2,332,713,000 <SALES> 0 <TOTAL-REVENUES> 66,217,000 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 43,698,000 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 61,406,000 <INCOME-PRETAX> (98,401,000) <INCOME-TAX> 3,481,000 <INCOME-CONTINUING> (101,882,000) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (101,882,000) <EPS-PRIMARY> (3.36) <EPS-DILUTED> 0