Paramount Pictures is taking over the Bay Theatre in Pacific Palisades, with the five-screen multiplex planning to reopen later this year, according to Variety. San Diego-based operator The Lot will run the theater under a deal struck with Rick Caruso, whose Palisades Village shopping complex houses the venue.
The Bay Theatre has sat dark since wildfires tore through the Pacific Palisades community in January 2025. Its return marks a notable step in the Bay Theatre Pacific Palisades reopening effort, following months of rebuilding across the neighborhood.
The Main Development
The theater previously operated under Netflix, and before that under Cinepolis, before closing because of wildfire damage. Paramount’s arrival puts a major studio directly in charge of a neighborhood cinema, a less common arrangement in an industry where studios typically focus on production and distribution rather than running individual venues.
Caruso made the deal with Paramount to use the space for first-run theatrical releases alongside classic film screenings, live events and special programming, according to Variety. The venue sits inside Palisades Village, the upscale shopping destination that reopened in August after extensive remediation and repairs tied to the fire damage.
David Ellison, chairman and CEO of Skydance, framed the reopening as a community effort. “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,” Ellison said, according to Variety. “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.”
What It Means For The Pacific Palisades Moviegoing Scene
Caruso described the Bay’s return as one of the clearest signals yet that the neighborhood is rebounding. “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,” Caruso said, according to Variety.
He also pointed to Paramount’s industry standing as a reason for the partnership. “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,” Caruso said, according to the outlet. “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.”
Paramount and Caruso said the venue will function as more than a standard multiplex, with plans for experiential activations and immersive theatrical moments that go beyond traditional screenings.
Background And Context
The Bay Theatre’s vintage-style signage nods to the community’s original Bay Theatre, which stood on Sunset Boulevard until it closed in 1978. The current iteration is built with upgraded amenities, including luxury seating, updated sound and projection systems, in-theater dining and signature cocktails.
Its closure after the January 2025 wildfires left Pacific Palisades without a dedicated movie venue for well over a year, even as Palisades Village itself worked through repairs before reopening to shoppers and diners in August.
What’s Next
Paramount and The Lot have not released a specific reopening date, but the companies have said the theater is targeted to open later in 2026. No details on screen configurations, staffing or ticket pricing have been announced.
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