Leaders of good old dramatic society given top position in theatre (4)
I believe the answer is:
gods
'top position in theatre' is the definition.
(the 'gods' means the highest seats in a theatre)
'leaders of good old dramatic society' is the wordplay.
'leaders of' suggests taking the first letters.
The first letters of 'good old dramatic society' is 'GODS'.
'given' acts as a link.
(Other definitions for gods that I've seen before include "high up in theatre" , "Idols" , "Superhuman beings" , "Deities" , "Supernatural beings" .)