Make light of drama, depressed (4,4)
I believe the answer is:
play down
'make light of' is the definition.
(to play something down is to reduce its importance)
'drama depressed' is the wordplay.
'drama' becomes 'play' (synonyms).
'depressed' becomes 'down' (synonyms).
'play'+'down'='PLAY DOWN'
(Other definitions for play down that I've seen before include "Understate the importance" , "Seek to lessen the importance (of something)" , "Gloss over" , "what Antrim team may do?" , "Give little importance to" .)