- Caruso and Paramount Pictures announced a long-term agreement to reopen the Bay Theater, closed since the January 2025 Palisades Fire, with lease terms undisclosed.
- The Lot, a dine-in cinema brand with four locations including La Jolla and Fashion Island, will run the theater, with first-run films, classics, curated events and a full bar.
- The deal joins a wave of Los Angeles theater revivals, including Sony’s Cinerama Dome and ArcLight Hollywood plan, as box office revenue improves but stays below prior levels.
Rick Caruso and Paramount Pictures plan to reopen the Bay Theater at Palisades Village, according to Bisnow, after it sat dark following the January 2025 Palisades Fire.
The long-term agreement was announced Oct. 13, and lease terms were not disclosed.
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The Lot Takes the Screens
Cinema brand The Lot will operate the venue. The upscale, dine-in chain has four locations, among them La Jolla and Newport Beach’s Fashion Island.
Expect first-run releases and classic titles, curated events, in-seat dining and a full bar. Caruso has told the Los Angeles Times the theater will reopen before year-end.
A Theater With History
The Bay launched in 2018 under the Cinepolis banner. Netflix took over operations in October 2021, using it for special events, classic screenings and showings of its own films.
In a statement, Skydance chief David Ellison said the deal supports the community’s comeback. The center itself reopened this summer, part of a Palisades recovery that remains uneven.
Why It Matters
A working theater gives the open-air center an entertainment draw that lifts visits and dwell time, which matters as retail owners weigh post-wildfire bets on the neighborhood.
It also fits a pattern. Over the summer, Sony Pictures, which owns Alamo Drafthouse, said it would lease and revive the Cinerama Dome as well as ArcLight Hollywood.
What’s Next
Ticket sales are up this year, helped by The Odyssey and Spider-Man: Brand New Day, but still trail earlier levels, and screens are fewer. The Paramount and Warner Bros. merger includes a theatrical release quota for the combined company’s first five years, which industry watchers will follow.
