Save theatre with regularly praised view (8)
I believe the answer is:
reprieve
'save' is the definition.
(thesaurus)
'theatre with regularly praised view' is the wordplay.
'theatre' becomes 'rep' (I've seen this in other clues**).
'with' says to put letters next to each other.
'regularly' means one should take alternating letters (regularly take one letter, leave next etc.).
'praised'+'view'='praisedview'
The alternate letters of 'praisedview' are 'rieve'.
'rep'+'rieve'='REPRIEVE'
(Other definitions for reprieve that I've seen before include "Temporary relief from harm" , "Postponement of punishment" , "Save from execution" , "Postponement as of death penalty" , "Temporary relief, like stay on death sentence" .)