Wexford County Council is set to swoop in on the town's iconic Dun Mhuire Theatre as part of plans to revitalise South Main Street.
The Wexford People reports that speculation over the building's future was ended by Wexford Co Co-Deputy Chief Executive Tony Larkin last week.
Mr Larkin stated that the Council is in discussions with the local parish to purchase the building with the intention of redevelopment, but refused to say if the building is to be demolished.
The theatre, which opened its doors in 1960 is said to be in a serious state of disrepair and holds just a handful of performances each year.
Wexford Co Co is looking at how to accommodate the current users of the site.