- Under the long-term agreement, the Bay will feature first-run theatrical films, operated in partnership with THE LOT
- The Bay’s reopening marks a key milestone in the ongoing recovery and revitalization of the Pacific Palisades community following last year’s devastating wildfires
Los Angeles, CA (October 13, 2026) – Paramount Pictures and Caruso today announced a long-term agreement for the celebrated Bay Theater in Palisades Village, returning a beloved destination to the community. Paramount Pictures has selected THE LOT, one of California’s most distinguished luxury dine-in cinema operators, to bring the finest moviegoing experience to the new Bay Theater on the Westside of Los Angeles.
The theater will showcase first-run theatrical releases, alongside nostalgic classics, curated events and special programming, all paired with luxurious seating, state-of-the-art sound and projection, in-theater dining and signature cocktails, an unparalleled guest experience, and the elevated hospitality that defines Caruso destinations.
The Bay has been closed since January 2025 in the wake of the area’s devastating wildfires. Plans are now underway to reopen its doors and welcome the community back, with a grand opening date later this year to be announced in the coming weeks.
Paramount Pictures is exploring a range of opportunities to support the ongoing revitalization of the Pacific Palisades community and contribute to the commercial vibrancy of Palisades Village. Under Paramount Picture’s stewardship, the theater will also serve as a dynamic entertainment destination that extends the theatrical experience beyond the screen, through experiential activations and immersive theatrical moments.
David Ellison, Chairman & CEO of Skydance: “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. 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.”
Rick Caruso, Founder and Executive Chairman of Caruso: “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. 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: “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.”
The Bay Theater is located at 1035 N. Swarthmore Avenue, Pacific Palisades, CA 90272.
About Skydance
Skydance (NYSE: SKYD) is a next-generation global media and entertainment company, composed of three business segments: Studios, Direct-to-Consumer, and TV Media. Skydance’s portfolio unites legendary brands, including Paramount, Warner Bros., HBO and HBO Max, Paramount+, Pluto TV, CBS, CNN, CBS Sports, TNT Sports, Nickelodeon, Cartoon Network, MTV, Food Network, BET, HGTV, and Comedy Central. For more information, please visit www.skydance.com.
About Caruso
Caruso is one of the largest privately held real estate and hospitality companies in the U.S. known for creating award-winning mixed-use destinations defined by exceptional design, guest experience, and community impact. Its portfolio of retail, restaurant, residential, resort, and club assets includes award-winning properties such as Palisades Village, The Grove, The Americana at Brand, Miramar Lake Club, and the ultra-luxury Rosewood Miramar Beach. Palisades Village is Caruso’s premier coastal destination and the heart of Pacific Palisades, featuring luxury retail, acclaimed dining, and community-focused experiences in a walkable village setting. Home to brands and local favorites including Erewhon, Spacca Tutto by Nancy Silverton, elysewalker, the Bay Theater and more, Palisades Village serves as the neighborhood’s social hub through signature events, family programming, and year-round community gatherings. For more information, please visit www.palisadesvillageca.com or www.caruso.com
About THE LOT
THE LOT is California’s premier luxury dine-in cinema and hospitality destination, redefining the traditional movie-going experience by seamlessly combining premium cinema, chef-driven dining, handcrafted cocktails, and exceptional guest service under one roof. With four distinctive locations in La Jolla, Liberty Station (Point Loma), Fashion Island (Newport Beach), and City Center (San Ramon), THE LOT offers guests the ability to connect and share unparalleled cinematic events, dine, and unwind. THE LOT has set the benchmark for elevated out of home theatrical entertainment, where every aspect of the guest journey is thoughtfully designed to deliver impeccable service, culinary excellence, and unforgettable moments that inspire. For more information, please visit www.thelotent.com or on Instagram @the_lot_.