Paramount Pictures and Caruso will reopen the iconic Bay Theater in Palisades Village, reviving a destination that shuttered after the devastating wildfires in 2025.
Paramount has selected THE LOT, a luxury dine-in theater chain, to operate the Bay theater when it reopens later this year. A specific date will be announced in the coming weeks.
Upon reopening, the theater “will showcase first-run theatrical releases, alongside nostalgic classics, curated events and special programming, all paired with luxurious seating, state-of-the-art sound and projection, in-theater dining and signature cocktails, an unparalleled guest experience,” the companies said in a press release on Tuesday.
“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,” said Skydance CEO David Ellison. “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.”
Rick Caruso, founder of Caruso, added: “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.”
Adolfo Fastlicht, Founder and CEO of THE LOT, said: “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.”
The move marks Paramount’s first purchase of a movie theater, and could be seen as an olive branch of sorts to the film community after Ellison’s divisive Paramount-Warner Bros. merger went through.
Sony Pictures owns the Alamo Drafthouse theater chain, and Netflix owns the Egyptian in Los Angeles and the Paris in New York City.
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