<ARTICLE> 5
<LEGEND>
(THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED FINANCIAL STATEMENTS OF ICG COMMUNICATIONS, INC. AS OF AND FOR
THE THREE MONTHS ENDED DECEMBER 31, 1996 AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS)
</LEGEND>
<CIK> 0001001131
<NAME> ICG HOLDINGS, INC.
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-START>                             OCT-01-1996
<PERIOD-END>                               DEC-31-1996
<CASH>                                         359,934
<SECURITIES>                                    32,601
<RECEIVABLES>                                   51,139
<ALLOWANCES>                                     2,515
<INVENTORY>                                      2,845
<CURRENT-ASSETS>                               449,223
<PP&E>                                         460,477
<DEPRECIATION>                                  56,545
<TOTAL-ASSETS>                                 944,133
<CURRENT-LIABILITIES>                           87,622
<BONDS>                                        761,504
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                    159,120
<COMMON>                                       278,686
<OTHER-SE>                                   (344,766)
<TOTAL-LIABILITY-AND-EQUITY>                   944,133
<SALES>                                              0
<TOTAL-REVENUES>                                56,956
<CGS>                                                0
<TOTAL-COSTS>                                   49,929
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                   914
<INTEREST-EXPENSE>                              24,454
<INCOME-PRETAX>                               (49,823)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                           (49,823)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                  (49,823)
<EPS-PRIMARY>                                   (1.56)
<EPS-DILUTED>                                        0