The Bay Theater in Palisades Village, Closed Since the LA Wildfires, Will Reopen Thanks to Paramount and Rick Caruso

The Bay Theater, a Southern California venue in the Pacific Palisades that has been closed since January 2025 when wildfires greatly damaged the community, is set to be restored and reopen soon, thanks to assistance from Paramount Pictures and Los Angeles developer Rick Caruso.

Paramount and Caruso on Tuesday announced a long-term agreement for the Bay Theater in Palisades Village. The theater will be operated by The Lot, which is a luxury dine-in cinema chain. The Bay will showcase first-run theatrical releases and other repertory titles, events, and special programming and be equipped with luxury seating, dining, and signature cocktails. The Bay Theater is located at 1035 N. Swarthmore Avenue in Pacific Palisades.

Under Paramount’s stewardship, it’s likely that the venue will be home to premieres and other experiential activations and theatrical events. 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.

“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. “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.”

“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,” Caruso said in a statement. “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, added, “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.”

Paramount isn’t the only studio now salvaging a long-closed venue in Los Angeles, as Sony is helping to reopen the Cinerama Dome in Hollywood under the operation of Alamo Drafthouse.