Taunton Dean Borough Council will discuss making a bid for The Brewhouse Theatre today.
It would not mean the authority would take on the running of the theatre though.
The public arts and performance hub went into administration in February leaving more than 50 members of staff redundant.
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A light breeze winds across the region, with clouds and rainy spells. There may be mist or fog in places.
Tonight will see light winds across the region, accompanied by cloudy skies, outbreaks of rain and mist and fog spreading north overnight.
Campaigners fighting the abuse chose Bristol bus station to try to educate the public on a growing problem.