A LANDMARK arts venue that has entertained crowds for two decades could be offered a lifeline after discovering funding would be slashed by nearly £80,000, writes Imogen Sumner.

Ownership of The Corn Exchange in Newbury could be handed over to The Corn Exchange Trust in a bid to secure the 400 seat venue's future.

The trust has managed the performance space since 2000 although it is owned by the council.

The council announced they were cutting funding for the site by £78,000 in March but now the two groups have begun talks for the trust to take over the venue.

Co-Director, Katy Griffiths said: “We do understand that West Berkshire Council has to make difficult choices, but it remains very hard for a small charitable arts organisation like the Corn Exchange to manage a cut at this level at short notice.

"We will be renewing our fundraising efforts and remain focused on our long-term plans and future sustainability."

The theatre hosts a large array of performances from dance, theatre and cinema to comedy, music and outdoor performances.

Co-Director Grant Brisland continued: "As we look to safeguard the Corn Exchange’s future in a climate of continued funding reductions, we have asked West Berkshire Council to consider transferring the ownership of the Corn Exchange building to the Trust.

"Our proposal offers a solution that reduces their liability whilst ensuring the Corn Exchange’s creative offer in the district will continue to thrive.”

A final decision is expected at the end of 2017 following a full public consultation carried out.

Paul James, West Berkshire Council's culture and libraries manager said: “The Corn Exchange is a local organisation with a national reputation.

"We are proud to have them in the district and want to support them where we can.

"Over the past two years it has been increasingly hard for us to provide financial support because of an increasing demand for our services and particularly social care for our most vulnerable residents.

"We have to balance competing needs for our resources and we believe transferring the ownership of the Corn Exchange will help the Trust in the long term."