Shakespeare's theatre in the round? (5)
I believe the answer is:
globe
I believe this is a double definition.
'shakespeare's theatre' is the first definition.
(I've seen this before)
'the round?' is the second definition.
(I've seen this before)
'in' acts as a link.
(Other definitions for globe that I've seen before include "The round world" , "Planet Earth" , "Spherical shape" , "Spherical map" , "Orb, ball" .)