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Bay Theater in Pacific Palisades to Reopen Under Paramount
Confirmed
In Short: Paramount Pictures and developer Rick Caruso plan to reopen the Bay Theater in Pacific Palisades by the end of 2026.
Paramount Pictures and real estate developer Rick Caruso announced Tuesday that the Bay Theater in Palisades Village will reopen before the end of 2026, marking a significant milestone in the community's recovery from the 2025 wildfires.
The original Bay Theater, which opened in 1949 on Sunset Boulevard and closed in 1978, will now reopen under Paramount's management, taking over from Netflix and Cinepolis, which previously operated the venue.
Rick Caruso, who was a runner-up in the 2022 Los Angeles mayoral race, emphasized the theater's importance to the community, stating, “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 is coming back stronger than ever.”
The theater, which was shuttered since the Palisades Fire in early 2025, is being restored and will be managed by luxury cinema operator The Lot, a La Jolla-based chain with four locations in California.
Paramount plans to upgrade the theater with state-of-the-art projection systems and in-seat food and drink service, aiming to make it one of Los Angeles' premier moviegoing destinations.
Adolfo Fastlicht, Founder and CEO of The Lot, expressed pride in the partnership, saying, “We are incredibly proud to step into this partnership and manage to lead the operations of such a historic and beloved venue.”
The theater will feature first-run movies, classic films, special screenings, and immersive theatrical experiences, complementing Paramount’s cinematic vision and Caruso’s retail destination.
Caruso declined to share the terms of Paramount’s lease agreement, confirming only that it is long-term.
The reopening of the Bay Theater is part of a broader revival of Los Angeles’s cinema scene, including the return of the Village in Westwood and Quentin Tarantino’s takeover of the Vista in Los Feliz.
Paramount Pictures is also exploring other opportunities to support the revitalization of Pacific Palisades and contribute to commercial activity at Palisades Village.
The upscale outdoor mall, Palisades Village, reopened in August after more than $100 million in renovations, including major infrastructure work to eliminate potential contaminants from the blaze.
What this adds
The theater's reopening is expected to boost the local economy and provide a cultural hub for the Pacific Palisades community.
What's confirmed
- Paramount Pictures and real estate developer Rick Caruso said Tuesday that the Bay Theater in Palisades Village will reopen before year’s end.
- The surrounding Caruso-owned Palisades Village reopened during the summer, and now the Bay Theater is set open its doors by the end of 2026, though no date is set.
- We’re inspired by the resilience of Pacific Palisades residents, and we’re honored to help support this community’s comeback.” Adolfo Fastlicht, Founder and CEO of The Lot, added, “We are incredibly proud to step into this partnership and manage to lead the operations of such a historic and beloved venue.
- “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,” Skydance Chairman and Co-CEO David Ellison said in a statement.
- The theater will be operated by the Lot, a La Jolla-based luxury dine-in theater chain with four locations in California.
- “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,” said Caruso.
What's still developing
- Going on two years after the wildfires that devastated Pacific Palisades and other Los Angeles-area neighborhoods, a popular moviehouse is ready for its closeup.
- Plans are currently underway to reopen the theater’s doors, and a grand opening date intended for later this year will be announced in the coming weeks.
- Under Paramount’s stewardship, it’s likely that the venue will be home to premieres and other experiential activations and theatrical events.
- “The comeback of this movie theater is a great signal for all of L.A.,” he said.
- Swarthmore Ave., will feature luxury seating, sound and projection systems, along with in-theater dining and cocktails, according to the companies.
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- The announcement comes as Pacific Palisades continues recovering from the January 2025 wildfire that devastated much of the community.
- Paramount is taking over the Bay Theater, the long-shuttered cinema at Palisades Village formerly leased by Netflix, adding to a wave of revivals of dormant movie theaters across Los Angeles.
- The resurgence isn’t limited to blockbuster venues either.
- There are plans for the theater to host “experiential activations” and “immersive theatrical moments,” like at The Grove’s AMC theater, another upscale retail and dining property run by Caruso.