Although 'mediasmith' is not a formal word, the meaning should be obvious to most native speakers. 'media' refers to information media, such as print, TV, radio, the internet. A smith is a craftsperson who makes things. So - a mediasmith is someone who uses media to create. They are people who know how to manipulate media, and people like reporters, to create stories, or to get their story circulated, and to get publicity. A feminist mediasmith is probably a person who gets publicity about feminist topics in the media, and makes sure stories about feminism get reported, and particularly that the get reported the way _they_ want them done. A luxury is something pleasurable and self-indulgent. Its use here is obviously an exaggeration, as traditions are not usually a luxury.

1. A mediasmith is a person who works in the media or who is skilled in the professional use of the media. Its nearest derivation would be from the word "wordsmith", which normally refers to a writer or a journalist. A mediasmith may be a journalist, a TV anchor, a pulicist, a blogger, an editor, etc. Concrete examples are Anna Wintour and Chritiane Amanpour. A feminist is someone who believes in, advocates, promotes and even fights for equal rights for women.. A feminist may be a man or a woman. 2. "We no longer have the luxury of tradition" means that tradition has become a burden or an obstacle in today's world and we can no longer afford it. Whoever says it is likely to be advocating radical changes to traditional values, institutions and systems. Russell Brand is a controversial and iconoclastic comedian, radio host, writer and activist. He may be regarded as a mediasmith as well.

Mediasmith - Not a real word. It is likely to mean people like Virginia Woolf or other famous feminists that were able to get media attention in a positive way to look toward issues affecting gender equality. Luxury is something you don't need, but want. It varies based on the person, but it is usually considered something far beyond what a person actually needs to survive. Some examples of luxury in the U.S. might include diamonds, yachts, steak and lobster dinners, skis for the very wealthy while people that are poor might consider their own vehicle a luxury. So Brand is saying that we like tradition, but we can't keep it because we are not able to afford the costs and it isn't necessary so it has to go.

"mediasmiths" is not a word in the dictionary, I have never heard of it before now. "The luxury of" - "the privilege of" let me give you some easier examples of this phrase :) ex: "Enjoy the luxury of a five star hotel!" or "We don't have the luxury of eating steak every day." I hope that makes sense!