<ARTICLE>  5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONDENSED CONSOLIDATED BALANCE SHEET AS OF MARCH 31, 1999 AND CONDENSED
CONSOLIDATED STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED MARCH 31, 1999
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER>  1,000
       
                          
<PERIOD-TYPE>                 3-MOS
<FISCAL-YEAR-END>               DEC-31-1999
<PERIOD-START>                  JAN-01-1999
<PERIOD-END>                    MAR-31-1999
<CASH>                              634,016
<SECURITIES>                              0
<RECEIVABLES>                       101,625
<ALLOWANCES>                         (6,097)
<INVENTORY>                               0
<CURRENT-ASSETS>                    766,469
<PP&E>                               46,191
<DEPRECIATION>                         (791)
<TOTAL-ASSETS>                    2,689,797
<CURRENT-LIABILITIES>               273,664
<BONDS>                           1,061,221
<PREFERRED-MANDATORY>               500,419
<PREFERRED>                               0
<COMMON>                              4,331
<OTHER-SE>                          977,073
<TOTAL-LIABILITY-AND-EQUITY>      2,689,797
<SALES>                             173,056
<TOTAL-REVENUES>                    178,183
<CGS>                                69,387
<TOTAL-COSTS>                        65,865
<OTHER-EXPENSES>                          0
<LOSS-PROVISION>                      1,864
<INTEREST-EXPENSE>                   23,779
<INCOME-PRETAX>                      28,944
<INCOME-TAX>                         16,142
<INCOME-CONTINUING>                  12,802
<DISCONTINUED>                            0
<EXTRAORDINARY>                           0
<CHANGES>                           (14,710)
<NET-INCOME>                         (1,908)
<EPS-PRIMARY>                         (0.04)
<EPS-DILUTED>                         (0.04)