Ex-Muvico execs launch Paragon

Firm will develop, own and operate movie theaters

Michael Whalen Jr., Michael Wilson and Hank Lightstone, all former top executives at Muvico Theatres, have joined to launch Paragon Entertainment, which plans to develop, own and operate movie theaters.

Paragon, based in Jupiter, Fla., will retrofit existing smaller theaters and retail space with stadium seating, digital projection and interactive arcades and bowling.

The company will open theaters next year in Miami, Chicago and Fredericksburg, Va. They will be branded as Muvico Theaters under a licensing agreement between Paragon and Muvico.

Paragon also plans to work with Frank Entertainment Cos.