Worthing Theatres is set to leave council control and be run by a newly formed independent trust.
The venues involved are the 850-capacity Pavilion Theatre, the 520-seat Connaught Theatre, the Assembly Halls, which can fit more than 1,000 people standing, and Worthing Museum.
In November last year, Worthing Borough Council put out an invitation to tender for the operation of the venues.
One application was formally submitted from a group made up of members of the council’s current culture team.
The team behind the application will form a trust to run the venues independently of the council.
Subject to negotiations being finalised, the council awarded the contract to the bidder at a meeting last month.
A report on the meeting stated: “The evaluation panel recognised the considerable amount of work that had gone into the preparation of the bid and also recognised the skill, innovation and talent of the submission.
“There are notable additional benefits including the introduction of new seasonal programming and the imaginative mixing of events and collections with the potential to inspire attendees and deliver significant economic benefits.”
A spokesman for the council said “negotiations are still ongoing”.
“Whatever happens we will ensure that Worthing Theatres continues to provide an excellent cultural programme for the people of the borough and beyond,” he added.