<ARTICLE> 5 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1996 <PERIOD-END> SEP-30-1996 <PERIOD-START> JAN-01-1996 <CASH> 639,082,000 <SECURITIES> 0 <RECEIVABLES> 44,202,000 <ALLOWANCES> (2,527,000) <INVENTORY> 0 <CURRENT-ASSETS> 28,554,000 <PP&E> 1,264,835,000 <DEPRECIATION> (88,414,000) <TOTAL-ASSETS> 2,271,827,000 <CURRENT-LIABILITIES> 348,956,000 <BONDS> 1,682,956,000 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 320,000 <OTHER-SE> 227,745,000 <TOTAL-LIABILITY-AND-EQUITY> 2,271,827,000 <SALES> 0 <TOTAL-REVENUES> 143,473,000 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 91,567,000 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 105,368,000 <INCOME-PRETAX> (170,769,000) <INCOME-TAX> 5,183,000 <INCOME-CONTINUING> (175,952,000) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (175,952,000) <EPS-PRIMARY> (5.73) <EPS-DILUTED> 0