Paramount Reopens Bay Theater in Pacific Palisades

Paramount Pictures and Caruso will reopen the Bay Theater at Palisades Village in Pacific Palisades on Tuesday, restoring the cinema after its closure following the January 2025 Palisades fire. The theater will return with upgraded technology, dining service and first-run films.

According to the Los Angeles Times, Paramount has taken over the theater lease and selected THE LOT, a La Jolla-based luxury dine-in theater chain, to operate the venue. The reopening is expected later this year, with a specific date to be announced.

The project includes state-of-the-art projection systems, in-seat food and drink service, luxury seating, upgraded sound and curated programming, according to statements from the companies.

"The comeback of this movie theater is a great signal for all of L.A. Los Angeles is resilient, and we’re going to show the country that Los Angeles can bounce back from a terrible, terrible disaster, and the comeback is going to be much greater than the setback." said Rick Caruso, founder and executive chairman of Caruso.

Caruso said his company owns Palisades Village, where the Bay Theater is located, and that the lease agreement with Paramount is long-term. The theater was previously operated by Netflix after the company took over the venue in 2021.

"Together with Caruso, we are proud to help bring the Bay back to life as a place for the Pacific Palisades community to gather around the shared experience of cinema. This theater has always meant more than movies alone – it’s woven into the fabric of this neighborhood, and helping restore it is a privilege. We’re inspired by the resilience of Pacific Palisades residents, and we’re honored to help support this community’s comeback." said David Ellison, CEO of Skydance.

Ellison discussed the importance of movie theaters with Caruso while Skydance was working to acquire Paramount, according to the Los Angeles Times. The Bay Theater reopening follows Paramount’s completion of its acquisition of Warner Bros. Discovery.

"Paramount is one of the world’s leading entertainment studios, with an extraordinary legacy of cinematic storytelling and, importantly, a deep commitment to the City of Los Angeles and to the future of the theatrical experience. Together, we see an opportunity to bring that to the Bay with the care, design and hospitality we’re known for, so that every visit feels special. The Bay has always been at the heart of the Palisades, and its return is one of the most meaningful signs yet that this community, following the reopening of the Palisades Village this summer, is coming back stronger than ever.

David Ellison and I have a shared ambition to make it one of Los Angeles’ premier moviegoing destinations. I am grateful for David’s leadership and commitment to Los Angeles and the entertainment industry." said Rick Caruso, founder of Caruso.

Caruso also said Palisades Village reopened in August after more than $100 million in renovations and infrastructure work following the wildfire. The Bay Theater was part of the broader recovery effort for the shopping center.

"We are incredibly proud to step into this partnership and manage to lead the operations of such a historic and beloved venue. Our goal is to perfectly complement Paramount Pictures’ cinematic vision and Caruso’s beautiful retail destination by delivering a flawless, high-end guest experience. Through our curated offering and dedicated hospitality, we look forward to welcoming the Pacific Palisades community back to the movies, the way they were intended to be shared." said Adolfo Fastlicht, founder and CEO of THE LOT.

THE LOT will operate the theater with first-run theatrical releases, nostalgic classics, special events and programming, according to the companies’ announcement. Paramount’s takeover marks its first purchase of a movie theater.

"Together with Caruso, we are proud to bring the Bay back to life as a place for the Pacific Palisades community to gather around the shared experience of cinema." said David Ellison, CEO of Skydance.