Theater Bay in Palisades Village, closed since the Los Angeles fires, will reopen thanks to Paramount and Rick Caruso.

The Lot, a luxury theater chain, will operate the new venue, with plans to reopen later this year.

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

Paramount and Caruso announced a long-term deal for the Bay Theater in Palisades Village on Tuesday. The theater will be operated by The Lot, a luxury cinema chain. The Bay features premieres and other repertory titles, special events and programs, and features luxury seating, dining and specialty cocktails. The Bay Theater is located at 1035 N. Swarthmore St. in Pacific Palisades. Related stories IndieWire J. Hires Kim Murphy as a film and media reporter.

Under the supervision of Paramount, it is likely to be the venue for premieres and other experimental activities and theatrical events. Plans are currently underway to reopen the theater's doors, and a grand opening date slated for later this year will be announced in the coming weeks.

Along with Caruso, we're proud to help bring it to Skydance President and 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 it's a privilege to help restore it. We are inspired by the resilience of the residents of Pacific Palisades and are proud 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, most importantly, a deep commitment to the city of Los Angeles and the future of theater," Caruso said in a statement. Together, we see an opportunity to bring the care, design and hospitality we're known for to the Bay, 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 significant signs that the community is coming back stronger than ever after the Palisades Village reopened this summer. David Ellison and I share a common ambition to make it one of the premier cinema destinations in Los Angeles. "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 honored to enter into this partnership and manage the operations of such a historic and popular venue. Our goal is to deliver a flawless party experience that complements the cinematic vision of Paramount Pictures and Caruso's beautiful retail destination. Through our dedicated curation and hospitality offering, we look forward to welcoming the Pacific Palisades community to the movies, as it was meant to be shared." become

Paramount isn't the only studio now rescuing a long-closed Los Angeles venue, as Sony is helping reopen the Alamo Drafthouse-run Hollywood Dome.