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Prison Realty/CCA Verges on Bankruptcy

On March 31, 2000, Prison Realty Trust, Inc. announced operating losses of $62 million for the year ended December 31, 1999. Its largest subsidiary and chief tenant, Corrections Corporation of America (CCA), reported a net loss of $203 million for 1999. Independent auditors of both Prison Realty and CCA indicated ...

 

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