Paramount acquires lease for Bay Theater in Pacific Palisades

Paramount Pictures has acquired the lease for the Bay Theater at Palisades Village in Pacific Palisades, according to reports from the Los Angeles Times Company Town and The Hollywood Reporter. Paramount and developer Rick Caruso announced on Tuesday that the long-shuttered cinema will reopen before the end of the year, as reported by Deadline. [1][2][5]

The venue has been closed since a wildfire in January 2025 damaged the area, the Los Angeles Times Company Town and The Hollywood Reporter reported. Paramount selected San Diego based luxury dine-in chain The Lot to manage daily venue operations, according to Variety and The Wrap. [1][2][3][4]

Under the new management structure, Paramount plans to upgrade the venue with modern projection technology and in-seat dining services, according to the Los Angeles Times Company Town. Upon reopening, the theater will screen first-run theatrical releases from all major studios alongside classic films and curated events, according to The Hollywood Reporter and The Wrap. [1][2][4]

The Bay Theater was previously leased by Netflix and operated by Cinepolis prior to that period, Variety reported. Caruso, founder and executive chairman of the real estate company Caruso, owns the Palisades Village shopping center where the venue is located, according to the Los Angeles Times Company Town. [1][3]

A specific reopening date will be announced in the coming weeks, according to The Wrap. The takeover by Skydance-owned Paramount marks another addition to the ongoing revival of dormant movie theaters across Los Angeles, The Hollywood Reporter reported. [1][2][4]