Paramount takes over Netflixs Bay Theater in Pacific Palisades, plans reopening

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Set us as preferred Skydance-owned Paramount Pictures has taken over the lease for the Bay Theater in Pacific Palisades and intends to reopen the cinema, which has been closed since the January 2025 Palisades fire last year.Paramount plans to upgrade the theater with state-of-the-art projection systems and in-seat food and drink service, Rick Caruso, whose company owns the Palisades Village shopping center where the Bay Theater is located, said in an interview.Caruso is founder and executive chairman of the real estate firm Caruso.

Paramount plans to show first-run theatrical movies from all studios.The theater will be operated by The Lot, a La Jolla-based luxury dine-in theater chain with four locations in California.

The theater is expected to reopen later this year, Caruso said.“The comeback of this movie theater is a great signal for all of L.A.,” he said.“Los Angeles is resilient, and we’re going to show the country that Los Angeles can bounce back from a terrible, terrible disaster, and the comeback is going to be much greater than the setback.”Palisades Village reopened in August after more than $100 million in renovations, including major infrastructure work.

The upscale outdoor mall survived the Palisades fire, but needed refurbishment to eliminate any potential contaminants from the blaze.Hollywood Inc.

Ellison and his team must braid together two huge film studios (housing nine film labels), four streaming services, three TV production studios, three animation units and more than 50 television networks, including two prominent news organizations.Caruso declined to share terms of Paramount’s lease agreement, saying only that it was long-term.Paramount declined to comment on the size of its investment in the theater.Caruso said he brought up the Bay Theater over lunch last year with David Ellison, chi...