<ARTICLE> 5 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> JUN-30-1997 <CASH> 513,065,000 <SECURITIES> 87,250,000 <RECEIVABLES> 94,912,000 <ALLOWANCES> (4,915,000) <INVENTORY> 0 <CURRENT-ASSETS> 29,371,000 <PP&E> 1,767,949,000 <DEPRECIATION> (177,300,000) <TOTAL-ASSETS> 2,760,814,000 <CURRENT-LIABILITIES> 262,154,000 <BONDS> 2,192,219,000 <PREFERRED-MANDATORY> 105,039,000 <PREFERRED> 0 <COMMON> 321,000 <OTHER-SE> 113,117,000 <TOTAL-LIABILITY-AND-EQUITY> 2,760,814,000 <SALES> 0 <TOTAL-REVENUES> 221,639,000 <CGS> 0 <TOTAL-COSTS> 141,251,000 <OTHER-EXPENSES> 82,210,000 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 99,117,000 <INCOME-PRETAX> (178,104,000) <INCOME-TAX> 4,669,000 <INCOME-CONTINUING> (173,435,000) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (173,435,000) <EPS-PRIMARY> (5.56) <EPS-DILUTED> 0