<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CONSOLIDATED FINANCIAL STATEMENTS OF ICG COMMUNICATIONS, INC. AND SUBSIDIARIES
AS OF DECEMBER 31, 1996 AND MARCH 31, 1997 AND FOR THE THREE MONTHS ENDED MARCH
31, 1996 AND 1997 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-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               MAR-31-1997
<CASH>                                         459,288
<SECURITIES>                                    31,747
<RECEIVABLES>                                   46,877
<ALLOWANCES>                                     4,006
<INVENTORY>                                      2,595
<CURRENT-ASSETS>                               541,362
<PP&E>                                         522,980
<DEPRECIATION>                                  66,255
<TOTAL-ASSETS>                               1,089,681
<CURRENT-LIABILITIES>                           76,114
<BONDS>                                        882,476
<PREFERRED-MANDATORY>                          261,909
<PREFERRED>                                          0
<COMMON>                                         5,282
<OTHER-SE>                                   (137,030)
<TOTAL-LIABILITY-AND-EQUITY>                 1,089,681
<SALES>                                              0
<TOTAL-REVENUES>                                63,050
<CGS>                                                0
<TOTAL-COSTS>                                   59,572
<OTHER-EXPENSES>                                     0
<LOSS-PROVISION>                                 1,268
<INTEREST-EXPENSE>                              25,140
<INCOME-PRETAX>                               (61,028)
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                           (66,781)
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                  (66,781)
<EPS-PRIMARY>                                   (2.09)
<EPS-DILUTED>                                        0