Hot on the heels of its approved merger with Warner Bros. Studios, Paramount Pictures is adding more real estate to its holdings, buying a historic theater in Pacific Palisades. Skydance-owned Paramount Pictures took over the lease for the Bay Theater at 1035 North Swarthmore Avenue with plans to reopen the 1940s-built movie house after it closed in the wake of the Palisades fire, the Los Angeles Times reported. Caruso, the real estate firm led by former mayoral candidate Rick Caruso, owns the property. Paramount will renovate the theater with new projection systems and in-seat food and drink service. The Lot, […]
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