Paramount to reopen long-closed Bay Theater in Pacific Palisades

Paramount Pictures and real estate developer Rick Caruso announced on Tuesday plans to reopen the Bay Theater in Pacific Palisades later this year. The luxury venue has been closed since wildfires hit the region in January 2025. The Hollywood Reporter, the Los Angeles Times, Deadline, Variety, and IndieWire all reported the takeover. [1][2][3][4][5]

The theater was previously operated by Netflix and Cinepolis before taking over the lease, according to Variety and Hollywood Reporter Business. San Diego luxury dine-in chain The Lot will operate the location on behalf of Paramount. According to the Los Angeles Times, Rick Caruso stated the studio plans to equip the venue with upgraded projection systems along with in-seat food and beverage service. [1][2][4][5]

The reopening will bring first-run theatrical releases from all major studios, classic films, and special community events to the five-screen cinema, Hollywood Reporter Business and Deadline reported. The venue is situated in the Palisades Village shopping center, owned by Caruso's real estate firm. [1][2][3]

The takeover comes as Skydance Media works through its acquisition of Paramount Pictures, which was previously reported by Variety. Reopening the venue adds to a broader movement of reopening dormant motion picture theaters throughout the Los Angeles area. [1][4]