Cardiff's New Theatre operator approved by council
Plans for a new independent operator to take on Cardiff's New Theatre have been signed off by the council.
The new tenant, who has not been named yet, has been approved to take on the 110-year-old theatre during a 25-year lease.
Cardiff Council said some of the "most influential promoters and venue operators" bid for the theatre.
Offloading the city centre theatre is one of the ways the council is looking to plug a £32.4m budget shortfall.
It currently spends £500,000 a year keeping it open, according to the Local Democracy Reporting Service.
The new deal could see the council earn a rent of £6.75m during the lease, and operate without the subsidy, it said.
Seven proposals were considered by the council's property and legal officers.