Old group take in lake in ancient city (3,7)
I believe the answer is:
the beatles
'old group' is the definition.
(old band)
'take in lake in ancient city' is the wordplay.
'take in' becomes 'eat' (to eat is to take in food).
'lake' becomes 'L' (geographical abbreviation).
'in' is an insertion indicator.
'ancient city' becomes 'thebes' (ancient Greek city).
'eat'+'l'='eatl'
'eatl' placed into 'thebes' is 'THE BEATLES'.
(Another definition for the beatles that I've seen is " Group".)
I've seen this clue in The Guardian.
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