The ABC has cancelled The Drum, in what it says was a “difficult decision”.

The final episode of the show, led by co-presenters Julia Baird, Ellen Fanning and Dan Bourchier, will air on Friday.

All three will move on to other roles within the ABC – Baird to a new role at ABC News combining writing, podcasting and video, Fanning to Brisbane radio and Queensland news presenting and Bourchier will become a presenter on the ABC news channel.

“The Drum has primarily been about hope… The hope that persuasion remains a possibility,” Baird said in a lengthy statement.

“We have held to that hope every night for more than a decade. It’s not just about speaking, it’s about listening, which sometimes seems a profoundly counter-cultural act.”

Co-host Fanning said the show had been “a radical departure from journalism as usual”.

“It’s usurping those who usually have a voice in our national conversations,” she said.

“Away from the Punch and Judy of traditional panel shows that pit one ‘side’ against the other towards a nuanced, complex, grassroots conversation that is authentically Australian, reflecting the spirit of this country and our enduring capacity to listen and learn from one another. Let’s not lose that.”

Five staff will be made redundant following the ABC decision. But ABC news director Justin Stevens said the decision to axe the nightly panel show was no reflection on the team behind it.

“Many talented people have worked on this program over the years, on camera and behind the scenes. I thank everyone who has been involved in this program.

“One of the key successes of The Drum has been unearthing new talent from around Australia, and we thank all the panelists who have appeared. The Drum’s database of interview talent is available to all our teams to call upon.”

In a statement, the broadcaster said “the difficult decision” to cancel the show was due to long-term audience trends. It intends to try other programs in the key 6pm timeslot, which is the lead-in to the flagship 7pm bulletin and crucial for determining the main channel audience across the evening.

“To fund innovation, while keeping our output and workload sustainable, we need to be prepared to stop as well as to start things,” Stevens said.

“The ABC has done this courageously for decades and it’s one reason why after 90 years we’re more relevant today than ever.”

The broadcaster said its audience remained “very well-served for news and current affairs” with the nightly bulletin, News Breakfast, 7.30, Australian Story, Four Corners, Q+A, Foreign Correspondent and Insiders, as well as special programming.

“As outlined in the ABC-wide change proposals in June, we’re constantly grappling with budget pressures and rising costs. This is an ongoing challenge for the entire ABC and means weighing extremely difficult options,” Stevens said.

“The changes announced today are not just about finding savings, they’re also about positioning us for success. What we do is always based on our audience-first news strategy, so we can make the digital reinvestment required to be able to connect with the public how and when they expect us to.”

The ABC said the changes announced on Tuesday would allow its news channel to focus on its core roles of breaking news, news video production, and also expand the role of the Asia Pacific Newsroom as the home of specialist coverage on our region.

ABC News will also soon relaunch a digital-first Stateline featuring state and territory coverage from across its regional and metro newsrooms. It will include in-depth investigations, long-form interviews and features, across web, app, video, audio and broadcast.

In 2024, its Asia Pacific Newsroom will launch of a weekly news program focusing on the broader Asia region. It will be made with funding assistance from ABC International Broadcast and Digital Services.

This story first appeared in our sister publication The New Daily.