The City Hall, which once hosted the Beatles and Buddy Holly, had been threatened with closure due to budget cuts.
In future the City Hall will be managed by the trust that runs the city's Theatre Royal.
Those who campaigned to save it, like Hazel Plater from the North East Music History Group, have welcomed the announcement, as long as the City Hall remains a music venue.
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The beleaguered Labour Party leader is clinging onto power in the face of as many as 150 MPs voting to remove him from the top job today.