Paragon Theaters

Paragon Theaters Profile and History

Paragon Entertainment Holdings, LLC (Paragon) was formed in 2009 by key former Muvico Entertainment, LLC ("Muvico") executives who sought to own and operate movie theaters and related entertainment ventures. Michael F. Whalen, Jr. and Mike Wilson own Paragon, which includes six movie theaters, as well as MyPi Custom Pizza & Craft Beer and The Lot Bar & Lounge. The world of theater exhibition is ch anging rapidly. Given competitive pressures of narrowing DVD windows, leading to quick playtimes of movie runs (i.e. the need for fewer screens per theater), the advent of digital technology, sophisticated home entertainment, and other forms of competitive entertainment, theaters must offer an integrated entertainment experience that is not "just about the movie" but where the "movie is part of the overall entertainment experience. Paragon seeks to create a true entertainment brand and destination for its guests by offering premium luxury leather seats with extended legroom, reserved seating, expansive food menus and concepts, a bar/lounge, and digital projection. Also, in keeping with technological advances and their ongoing pursuit of enhancing the guest experience, most Paragon Theaters have added electric recliners that can be fully extended with the simple push of a button. Paragons strategy is two-fold: (1) Retrofitting existing theaters, as well as existing retail space that has become available as a result of high vacancy rates; (2) Identifying new build opportunities to create entertainment venues that include movies, dining, and other forms of entertainment, such as bowling. Paragon has significant strategic relationships with companies and investment funds in the media and entertainment industries to create value for its partners and clients and continued growth of the Paragon brand. These relationships include major investor and brand partners such as Start Media, iStar Financial, Starwood Group, Pepsi Co. and Sony Electronics. The company has a proven track record of successfully retrofitting theaters. ...