Theatre in the round? (5)
I believe the answer is:
globe
This clue is a double definition.
'theatre' is the first definition.
(I've seen this before)
'the round?' is the second definition.
(I've seen this before)
'in' is the link.
(Other definitions for globe that I've seen before include "House 8 [OF SHAKESPEARE]" , "stage for Shakespeare" , "London replica theatre" , "Rounded object" , "Earth - sphere" .)