Matched level in light drama, backer having withdrawn (8)
I believe the answer is:
compared
'matched' is the definition.
'level in light drama backer having withdrawn' is the wordplay.
'level' becomes 'par' (I have seen 'Accepted level ' mean 'par' so perhaps 'level' could also mean 'par').
'in' means one lot of letters goes inside another.
'light drama' becomes 'comedy'.
'backer having withdrawn' means to remove the last letter (remove a letter from the 'back' of the word).
'comedy' with its last letter taken off is 'comed'.
'par' inserted inside 'comed' is 'COMPARED'.
(Other definitions for compared that I've seen before include "Looked at similarities and differences" , "set side by side" , "Likened or contrasted" , "Drop mace (anag.)" .)