Welcome to this week's Mumbrellacast, where Abe Udy, Hal Crawford, and Nathan Jolly -- who some are calling the best power trio since Nirvana -- discuss the Federal Budget's impact on the media world, the new SBS managing director, and the job losses and bidding wars at Ooh Media.

We open with the Federal Budget, easily the best 990-page document to be released so far this month. AAP is being given a cool $15m to keep the newswire ticking along, while the ABC and SBS both got their budgets increased. But it's the capital gains tax changes that have start-ups in the media and marketing space worried. Is it just post-budget panic, or will the new rules make it less attractive to start -- or continue -- a small business in Australia?

Also this week, Jane Palfreyman has been named the managing director of the SBS, a job she's been doing for around nine months already, taking over from James Taylor, who is now at Ooh Media (more on him, shortly). As we discuss, the SBS has a reputation for promoting from within their ranks -- and for largely avoiding the "our tax money pays for this garbage" garbage that the ABC seems to cop every time they report something slightly impartial or show a boring re-run of The Bill. Is it time to apply more scrutiny to the SBS?

As we were going into record this podcast, Ooh Media was just wrapping its annual general meeting, during which CEO James Taylor announced 82 job cuts -- around 9% of staff -- and $12m in annual savings. The shareholders seemed quite impressed with the way the company is being ran -- possibly because two recent takeover bids have seen share prices soar in the past few weeks. Taylor and co. also seem largely unconcerned about Nine's recent acquisition of outdoor media rival QMS, which seems to have appeased the shareholders somewhat.

And finally, Eleanor spoke to Gavin McLeod, chief creative officer at Emotive, about the new campaign they created for Four Seasons Condoms entirely with AI. It's worth watching the ad before you start typing "AI slop" into the comments box below...

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Podcast edit by Abe’s Audio.