Securus profits and exploits off people in caged lockups, and their families, because the government gives them a monopoly on communication services. Along comes the FCC wearing the white hat, slashing prices for prisoners on phone and video calling in July 2024.
Securus’ profit crashed on the bond market to just .47 cents on the dollar. The company called Platinum Equity, is parent to Aventiv Technology, which is parent to Securus. Lenders to Aventiv have given it until 2025 to sell or face bankruptcy. They owe $1.3 billion and can’t refinance.
Residents of Perryville tell us Securus is notorious for poor service and even worse content. The families tell us dealing with Securus’ tech issues is a nightmare, and they unanimously preferred Jpay.
We’ll let you know when there’s a new tablet provider at Perryville.