There has been a surprise £600,000 U-turn on arts funding on Tyneside.
Just months after Newcastle City Council proposed cutting all of its support for the city's venues, it is now launching a fund worth more than a half a million pounds.
The council leader says that he hasn't changed his mind, but that they have found the money elsewhere.
And, if it gets approval, theatres could get council funding again by 2016.
Watch the full report from Dan Ashby below.
Newcastle City Council have released the following statement in response to reports that Newcastle's City Hall, which had been under fear of closure, is safe and that it has a new owner.
There are reports that Newcastle's City Hall, which had been under fear of closure, is safe and that it has a new owner.
It is understood that the Theatre Royal has struck a deal with the music venue in the city and an official announcement on the development is expected tomorrow.
Neither the Theatre Royal nor Newcastle City Council would comment tonight.
More details on that story to follow.
The leader of Newcastle City Council, Nick Forbes, has been talking to us about the announcement that a new £600,000 arts fund is being set up to support theatres and arts organisations in the region.
Newcastle City Council is starting up a £600,000 arts fund for its theatres and arts organisations to apply to.
It comes after the council proposed to cut more than one million pounds of its arts funding in its last budget.
The Deputy Prime Minister Nick Clegg accused the council of playing politics with its decisions, but today the council said the decision made financial sense.
Councillor Nick Forbes said the money was coming from alternative revenue streams which were safe from cuts.
Newcastle City Council is selling off a piece of the city's heritage in a bid to help plug a 100 million pound funding gap.
The Lord Mayor's official coach, which has been pulled through the streets of the city for more than 200 years, is valued at £50,000 and will go towards filling the funding gap.
The closing date for expressions of interest is midday Thursday, February 28th.
Tony McKenna, head of leisure services for Newcastle City Council, says that there is no definitive proposal to close the City Hall in Newcastle and that the council are reviewing the hall's services.
The full text of the petition to save Newcastle City Hall reads as follows:
A petition with over 13,000 signatures has been handed in to Newcastle City Council asking them not to close Newcastle City Hall.
The future of the venue is "under review" as part of budget cut proposals.
You can watch the full lunchtime update from Kenny Toal below.