Paramount is taking over the Bay Theater, the long-shuttered Palisades Village movie theater formerly leased by Netflix, adding to a wave of dormant movie theater revivals across Los Angeles.
Paramount Pictures and developer Rick Caruso announced plans Tuesday to reopen the theater later this year, bringing all studio’s first theatrical releases, classics and experiential events to the neighborhood theater that has been closed since wildfires ravaged the region last year. The location will be operated by The Lot, a luxury restaurant chain.
“Together with Caruso, we are proud to help bring new life to the Bay as a place for the Pacific Palisades community to come together around the shared experience of cinema,” Skydance CEO David Ellison said in a statement. “This cinema has always represented much more than just films: it is integrated into the fabric of this neighborhood, and contributing to its restoration is a privilege. »
Paramount Pictures said it is exploring opportunities to support the Pacific Palisades community, including contributing to the commercial revitalization of Palisades Village. The theater is planned to host “experiential activations” and “immersive theatrical moments,” similar to the AMC Theater at The Grove, another high-end retail and dining establishment managed by Caruso.
In a statement, Caruso noted Ellison’s “deep commitment to the city of Los Angeles and to the future of the theatrical experience.”
“The Bay has always been at the heart of the Palisades, and its return is one of the most significant signs yet that this community, after the reopening of Palisades Village this summer, is coming back stronger than ever,” he added. “David Ellison and I have a shared ambition to make this one of Los Angeles’ premier film destinations.”
The reopening is part of a broader renaissance of the Los Angeles movie scene, amid this year’s soaring box office. It includes Sony’s planned restoration of the Cinerama Dome and rehabilitation of the adjacent ArcLight Hollywood, Amazon’s leasing of the Culver Theater and Netflix’s purchase of the Egyptian in Hollywood. The resurgence isn’t limited to blockbuster theaters, either. There’s the Jason Reitman-led return of The Village to Westwood, Quentin Tarantino’s takeover of The Vista in Los Feliz, and Kristen Stewart’s revival of the Highland Theater.
The Bay Theater is seen during Caruso’s Palisades Village ribbon cutting ceremony on August 15, 2026 in Pacific Palisades, California.
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