Paramount Pictures will reopen the Bay Theater in Pacific Palisades before the end of the year, bringing back a neighborhood cinema that has sat dark since the January 2025 wildfire.
The studio and developer Rick Caruso announced a long-term agreement Tuesday. Paramount takes over a lease Netflix held after assuming operations in 2021 from Cinépolis. The Lot, a luxury dine-in operator, will manage the five-screen venue at 1035 N. Swarthmore Ave. in Palisades Village. No opening date exists yet, but the companies said one will be announced in the coming weeks.
Visitors can expect first-run releases from every studio, classic films, special screenings and immersive events. The theater will also add upgraded projection and sound, in-seat dining and cocktails. Paramount declined to say how much it is investing.
Skydance chief David Ellison said the company is proud to help “bring the Bay back to life” for residents. Caruso, whose company owns the shopping center, said the neighborhood is “coming back stronger than ever” since Palisades Village reopened August 15. He said the idea surfaced over lunch last year with Ellison, who was then working to acquire Paramount.
The announcement comes about a week after Paramount completed its purchase of Warner Bros. Discovery, and it joins a wave of revivals of dormant movie houses across Los Angeles. Paramount said it is exploring other ways to support Palisades, including commercial activity at the village. Adolfo Fastlicht, founder and chief executive of The Lot, said his company looks forward to welcoming the community back to the movies.
The Bay name carries local history. An earlier Bay Theater opened on Sunset Boulevard in 1949 and closed in 1978.
