UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
(Rule 13d-101)
(Amendment No. )*
INFORMATION TO BE INCDLUDED IN STATEMENTS FILED PURSUANT
TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED PURSUANT TO
RULE 13d-2(a)
Gabelli Global Multimedia Trust Inc
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(Name of Issuer)
Common Stock, $0.001 par value
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(Title of Class of Securities)
36239Q109
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(CUSIP Number)
Arthur D. Lipson
Western Investment LLC
7050 S. Union Park Center, Ste. 590
Midvale, UT 84047
(801) 568-1400
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
January 14, 2010
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition which is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d- 1(e), (f) or (g), check the
following box [ ].
* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information, which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the "purpose" of Section 18 of the Securities Exchange
Act of 1934 or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act.
(Continued on following pages)
CUSIP No. - 36239Q109
1 NAMES OF REPORTING PERSONS.
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY).
WESTERN INVESTMENT LLC
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X ]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS* (See Item 3)
OO, WC
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) [ ]
OR 2(e) [ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
NUMBER OF 7 SOLE VOTING POWER
SHARES 711,518 shares
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0 shares
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 711,518 shares
PERSON 10 SHARED DISPOSITIVE POWER
WITH 0 shares
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
(See Item 5) 711,518 shares
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.1%
14 TYPE OF REPORTING PERSON*
OO
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
ARTHUR D. LIPSON
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X ]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
OO,PF
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) [ ]
OR 2(e) [ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
NUMBER OF 7 SOLE VOTING POWER
SHARES 711,519
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 711,519
PERSON WITH 10 SHARED DISPOSITIVE POWER
0
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
(See Item 5) 711,519
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.1%
14 TYPE OF REPORTING PERSON*
IN
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
WESTERN INVESTMENT HEDGED PARTNERS LP
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X ]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
OO
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) [ ]
OR 2(e) [ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
NUMBER OF 7 SOLE VOTING POWER
SHARES 252,400
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 252,400
PERSON WITH 10 SHARED DISPOSITIVE POWER
0
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
(See Item 5) 252,400
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.8%
14 TYPE OF REPORTING PERSON*
PN
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
WESTERN INVESTMENT TOTAL RETURN PARTNERS LP
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X ]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
OO
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) [ ]
OR 2(e) [ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
DELAWARE
NUMBER OF 7 SOLE VOTING POWER
SHARES 179,552
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 179,552
PERSON WITH 10 SHARED DISPOSITIVE POWER
0
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
(See Item 5) 179,552
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
1.3%
14 TYPE OF REPORTING PERSON*
PN
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
WESTERN INVESTMENT TOTAL RETURN FUND, LTD
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X ]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
OO
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) [ ]
OR 2(e) [ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
CAYMAN ISLANDS
NUMBER OF 7 SOLE VOTING POWER
SHARES 278,566
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 278,566
PERSON WITH 10 SHARED DISPOSITIVE POWER
0
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
(See Item 5) 278,566
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
2.0%
14 TYPE OF REPORTING PERSON*
CO
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
JOSHUA MASSEY
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X ]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
OO
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) [ ]
OR 2(e) [ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
NUMBER OF 7 SOLE VOTING POWER
SHARES 1,900
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 83,778
PERSON WITH 10 SHARED DISPOSITIVE POWER
0
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
(See Item 5) 83,778
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Less than 1%
14 TYPE OF REPORTING PERSON*
IA
1 NAME OF REPORTING PERSONS
I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)
DAVID MASSEY
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [X ]
(b) [ ]
3 SEC USE ONLY
4 SOURCE OF FUNDS*
PF
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) [ ]
OR 2(e) [ ]
6 CITIZENSHIP OR PLACE OF ORGANIZATION
USA
NUMBER OF 7 SOLE VOTING POWER
SHARES 1,900
BENEFICIALLY 8 SHARED VOTING POWER
OWNED BY 0
EACH 9 SOLE DISPOSITIVE POWER
REPORTING 1,900
PERSON WITH 10 SHARED DISPOSITIVE POWER
0
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
(See Item 5) 1,900
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES* [ ]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
Less than 1%
14 TYPE OF REPORTING PERSON*
IN
ITEM 1. SECURITY AND ISSUER
This statement relates to shares of the Common Stock, $0.001 par value (the
"Shares"), of Gabelli Global Multimedia Trust Inc (the "Issuer"). The address
of the principal executive offices of the Issuer is One Corporate Center,
Rye, NY 10580.
ITEM 2. IDENTITY AND BACKGROUND
(a) This statement is filed by Western Investment LLC, a Delaware
limited liability company ("WILLC"), Arthur D. Lipson ("Mr. Lipson"), Western
Investment Hedged Partners LP, a Delaware limited partnership ("WIHP"),
Western Investment Total Return Partners LP, a Delaware limited partnership
("WITRP"), Western Investment Total Return Fund, Ltd., a Cayman Islands
corporation ("WITRL", and together with Mr. Lipson, WIHP and WITRP, the
"Western Entities"), Joshua Massey, ("Joshua Massey") and David Massey ("David
Massey", and together with Joshua Massey, the "Massey Entities"). Each of the
foregoing is referred to as a "Reporting Person" and collectively as the
Reporting Persons."
WILLC has sole voting and investment power over WIHP's, WITRP's and WITRL's
security holdings and Mr. Lipson, in his role as the managing member of WILLC,
controls WILLC's voting and investment decisions. Neither WILLC, Mr. Lipson,
WIHP, WITRP, nor WITRL has voting or dispositive control over the Shares owned
by Joshua Massey and David Massey. Neither WIHP, WITRP, nor WITRL has voting
or dispositive control over the Shares owned directly by each other or the
Shares owned by WILLC or Mr. Lipson.
Joshua Massey is a registered investment advisor under Section 203 of the
Investment Advisers Act of 1940 who manages a number of unaffiliated third party
and segregated client accounts (the "segregated client accounts") over which Mr.
Massey, pursuant to limited powers of attorney, has discretionary investment
authority. David Massey is an individual and father of Joshua Massey. Joshua
Massey has both investment and voting authority over the Shares owned by David
Massey. Neither Joshua Massey nor David Massey has voting or dispositive
control over the Shares beneficially owned by WILLC, Mr. Lipson, WIHP, WITRP,
and WITRL.
By virtue of that certain Joint Filing and Solicitation Agreement by and among
the Reporting Persons, as described in further detail in Item 6, the Reporting
Persons affirm that they are members of a "group" for the purposes of Section
13(d)(3) of the Securities and Exchange Act of 1934, as amended (the "Act").
(b) The principal business address of WILLC, Mr. Lipson, WIHP and WITRP is
7050 S. Union Park Center, Suite 590, Midvale, UT 84047. The principal business
address of WITRL is c/o dms Management, P.O. Box31910, dms House, 20 Genesis
Close, Grand Cayman KY1-1208, Cayman Islands. The officers and directors of
WITRL and their principal occupations and business addresses are set forth on
Schedule A and incorporated by reference in this Item 2.
The principal business address of Joshua Massey is 205 Willow Street, Hamilton,
MA 01982.
The principal business address of David Massey is 2550 Webb Avenue #7S, Bronx,
NY 10468
(c) The principal business of WILLC is acting as the investment manager of WITRL
and the general partner of each of WIHP and WITRP. The principal occupation of
Mr. Lipson is acting as managing member of WILLC. The principal business of each
of WIHP, WITRP and WITRL is acquiring, holding and disposing of investments in
various companies.
The principal business of Joshua Massey is acting as a registered investment
adviser to the segregated client accounts. David Massey is retired.
(d) No Reporting Person has, during the last five years, been convicted in a
criminal proceeding (excluding traffic violations or similar misdemeanors).
(e) No Reporting Person has, during the last five years, been party to a civil
proceeding of a judicial or administrative body of competent jurisdiction and as
a result of such proceeding was or is subject to a judgment, decree or final
order enjoining future violations of, or prohibiting or mandating activities
subject to, federal or state securities laws or finding any violation with
respect to such laws.
(f) Arthur D. Lipson, Joshua Massey and David Massey are citizens of the United
States of America. WILLC is a Delaware limited liability company. WIHP is a
Delaware limited partnership. WITRP is a Delaware limited partnership. WITRL
is a Cayman Islands company.
ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION
The aggregate purchase price of the 711,518 Shares beneficially owned by WILLC
is approximately $4,228,912 (including brokerage commissions).
The Shares beneficially owned by WILLC consist of 1,000 Shares that were
acquired with WILLC's working capital, 252,400 Shares that were acquired with
WIHP's invested capital, 179,552 Shares that were acquired with WITRP's
invested capital and 278,566 Shares that were acquired with WITRL's invested
capital. The aggregate purchase price of the 1 Share owned directly by Mr.
Lipson is $5. Mr. Lipson acquired his Share with personal funds.
The aggregate purchase price of the 81,878 Shares in the segregated client
accounts which are beneficially owned by Joshua Massey is approximately
$590,618 (excluding brokerage commissions). The Shares in the segregated
client accounts were acquired with invested capital.
The aggregate purchase price of the 1,900 Shares owned by David Massey is
approximately $12,160 (excluding brokerage commissions). David Massey acquired
his Shares with personal funds.
ITEM 4. PURPOSE OF TRANSACTION
The Reporting Persons purchased the Shares based on the Reporting Persons'
belief that the Shares, when purchased, were significantly undervalued and
represented an attractive investment opportunity. Depending upon overall
market conditions, other investment opportunities available to the Reporting
Persons, and the availability of Shares at prices that would make the purchase
of additional Shares desirable, the Reporting Persons may endeavor to increase
their position in the Issuer through, among other things, the purchase of
Shares on the open market or in private transactions or otherwise, on such
terms and at such times as the Reporting Persons may deem advisable.
The Reporting Persons may engage in discussions with management and the Board
of the Issuer about possible ways to reduce or eliminate the discount. The
Reporting Persons reserve the right to take any action they deem appropriate
related to this issue.
Each of the Reporting Persons intends to review his/its investment in the Issuer
on a continuing basis and may engage in discussions with management and the
Board of the Issuer concerning the business, operations and future plans of the
Issuer. The Reporting Persons are concerned by the persistent discount to net
asset value at which the Shares of the Issuer have been trading. The Reporting
Persons believe that the Issuer should take appropriate action to cause the
discount to net asset value to be eliminated or substantially reduced.
Depending on various factors including, without limitation, the Issuer's
financial position and investment strategy, the price levels and/or discount to
net asset value of the Shares, conditions in the securities markets and general
economic and industry conditions, the Reporting Persons may in the future take
such actions with respect to their investment in the Issuer as they deem
appropriate including, without limitation, seeking Board representation, making
proposals concerning, among other thing, changes to the capitalization,
ownership structure or operations of the Issuer or replacement of the Issuer's
investment manager with an investment manager that is concerned with the
discount to net asset value at which the Shares have been trading and that will
take action to eliminate or reduce such discount, purchasing additional Shares,
selling some or all of its Shares, engaging in short selling of or any hedging
or similar transaction with respect to the Shares or changing its intention with
respect to any and all matters referred to in Item 4.
On December 4, 2009, Mr. David Massey submitted a shareholder proposal letter
to the Issuer pursuant to SEC Rule 14a-8 requesting that the Issuer's Board of
Directors take the necessary steps to declassify the Board of the Issuer and
establish annual elections of directors whereby directors of the Issuer would be
elected annually and not by classes. A copy of Mr. David Massey's shareholder
proposal letter dated December 4, 2009 is attached hereto as Exhibit 1 and is
incorporated herein by reference.
On December 14, 2009, WILLC delivered a letter to the Issuer nominating Mr.
Lipson and Gregory R. Dube for election as directors of the Issuer at the
Issuer's 2010 annual meeting of stockholders. A copy of WILLC's nomination
letter dated December 14, 2009 is attached hereto as Exhibit 2.
Except as otherwise set forth herein, the Reporting Persons do not have any
present plans or proposals which would relate to or result in the matters set
forth in subparagraphs (a) - (j) of Item 4 of Schedule 13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
(a) and (b) The aggregate percentage of Shares reported owned by each person
named herein is based upon 13,994,153 Shares outstanding as of June 30, 2009, as
reported in the Issuer's Certified Shareholder Report of Registered Management
Investment Companies on Form N-CSR, filed with the Securities and Exchange
Commission on September 3, 2009.
As of the close of business on January 22, 2010, WIHP, WITRP and WITRL
beneficially owned 252,400, 179,552 and 278,566 Shares, respectively,
representing approximately 1.8%, 1.3% and 2.0%, respectively, of the Shares
outstanding. WILLC, as the investment manager of WITRL and the general partner
of each of WIHP and WTIRP, beneficially owns 711,518 Shares, constituting
approximately 5.1% of the Shares outstanding. Mr. Lipson, as the managing member
of WILLC, is deemed to beneficially own the 711,518 Shares beneficially owned by
WILLC, in addition to 1 Share owned directly by Mr. Lipson, constituting
approximately 5.1% of the Shares outstanding. Neither WILLC, Mr. Lipson, WIHP,
WITRP, nor WITRL has voting or dispositive control over the Shares beneficially
owned by Joshua Massey or David Massey. Neither WIHP, WITRP, nor WITRL has
voting or dispositive control over the Shares owned directly by each other or
the Shares owned directly by WILLC or Mr. Lipson.
As of the close of business on January 22, 2010, Joshua Massey is deemed to
beneficially own the 81,878 Shares owned by the segregated client accounts, and
1,900 Shares owned by David Massey, representing less than 1% of the Shares
outstanding. As of the close of business on January 22, 2010, David Massey
owned 1,900 Shares, representing less than 1% of the Shares outstanding.
Neither Joshua Massey nor David Massey has voting or dispositive control over
the Shares beneficially owned by WILLC, Mr. Lipson, WIHP, WITRP, or WITRL.
(c) Schedule B annexed hereto lists all transactions by the Reporting Persons in
the Issuer's Shares during the past sixty days. All of such transactions were
effected in the open market.
(d) No person other than the Reporting Persons is known to have the right to
receive, or the power to direct the receipt of dividends from, or proceeds from
the sale of, the Shares.
(e) Not applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS, OR RELATIONSHIPS WITH
RESPECT TO SECURITIES OF THE ISSUER
On December 2, 2009, WILLC entered into an indemnification agreement with David
Massey pursuant to which WILLC agreed to indemnify and hold David Massey
harmless against any claims arising from Mr. Massey's submission of a
shareholder proposal to the Issuer for the 2010 annual meeting of shareholders
proposing that the Board of Directors of the Issuer be declassified. A copy of
the indemnification agreement is attached hereto as Exhibit 3 and is
incorporated herein by reference.
On January 25, 2010, the Reporting Persons entered into a Joint Filing and
Solicitation Agreement (the "Joint Filing Agreement") in which the parties
agreed to the joint filing on behalf of each of them of statements on Schedule
13D with respect to the securities of the Issuer. The Joint Filing Agreement is
attached hereto as Exhibit 4 and is incorporated herein by reference.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
1. Shareholder proposal letter from David Massey to the Issuer, dated
December 4, 2009.
2. Director Nomination letter from WILLC to the Issuer, dated December 14,
2009.
3. Indemnification Agreement by and among Western Investment LLC and David
Massey, dated December 2, 2009.
4. Joint Filing and Solicitation Agreement by and among Western Investment LLC,
Arthur D. Lipson, Western Investment Hedged Partners LP, Western Investment
Total Return Partners LP, Western Investment Total Return Fund, Ltd, Joshua
Massey and David Massey, dated January 25, 2010.
SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
Date: January 25, 2010
WESTERN INVESTMENT LLC
By: /s/ Arthur D. Lipson, Managing Member
WESTERN INVESTMENT HEDGED PARTNERS LP
By: Western Investment LLC,
its General Partner
By: /s/ Arthur D. Lipson, Managing Member
WESTERN INVESTMENT TOTAL RETURN PARTNERS LP
By: Western Investment LLC,
its General Partner
By: /s/ Arthur D. Lipson, Managing Member
WESTERN INVESTMENT TOTAL RETURN FUND LTD
By: Western Investment LLC,
its Investment Manager
By: /s/ Arthur D. Lipson, Managing Member
/s/ Arthur D. Lipson
___________________
ARTHUR D. LIPSON
/s/ Joshua Massey
___________________
JOSHUA MASSEY
/s/ David Massey
___________________
DAVID MASSEY
SCHEDULE A
Directors and Officers of Western Investment Total Return Fund Ltd.
Name and Position Principal Occupation Principal Business Address
Citizenship
Don M. Seymour
Director Businessperson
dms Management Ltd. dms Management
P.O. Box 31910
dms House, 20 Genesis Close,
Grand Cayman KY1-1208,
Cayman Islands Cayman Islands
David Bree
Director Businessperson
dms Management Ltd. dms Management
P.O. Box 31910
dms House, 20 Genesis Close,
Grand Cayman KY1-1208,
Cayman Islands Cayman Islands
J.D. Clark & Co.
Secretary Trust Company 2225 Washington Blvd.
Ogden, Utah 84401 United States
SCHEDULE B
Transaction Code Quantity Trade Date Price
WIHP Buy 800 11/25/2009 $6.2963
Buy 100 11/25/2009 $6.2785
Buy 1,200 11/30/2009 $6.1703
Buy 3,800 12/01/2009 $6.2510
Buy 300 12/02/2009 $6.3158
Buy 300 12/02/2009 $6.2585
Buy 600 12/03/2009 $6.3607
Buy 300 12/03/2009 $6.3185
Buy 3,700 12/04/2009 $6.4225
Buy 700 12/04/2009 $6.3885
Buy 8,600 12/07/2009 $6.4738
Buy 200 12/07/2009 $6.4675
Buy 2,900 12/10/2009 $6.4542
Buy 1,100 12/11/2009 $6.4437
Buy 100 12/15/2009 $6.4550
Buy 300 12/16/2009 $6.4982
Buy 100 12/16/2009 $6.4585
Buy 1,800 12/17/2009 $6.3336
Buy 1,300 12/18/2009 $6.3241
Buy 1,000 12/21/2009 $6.4432
Buy 2,800 12/21/2009 $6.4085
Buy 1,800 12/21/2009 $6.4628
Buy 900 12/22/2009 $6.4785
Buy 1,000 12/22/2009 $6.4785
Buy 300 12/23/2009 $6.4785
Buy 4,200 12/23/2009 $6.5060
Buy 700 01/21/2010 $6.5285
Buy 700 01/22/2010 $6.5622
Buy 5,500 01/22/2010 $6.5711
Buy 16,500 01/22/2010 $6.5403
WITRL Buy 800 11/25/2009 $6.2963
Buy 100 11/25/2009 $6.2785
Buy 1,200 11/30/2009 $6.1703
Buy 3,800 12/01/2009 $6.2510
Buy 300 12/02/2009 $6.3158
Buy 300 12/02/2009 $6.2585
Buy 600 12/03/2009 $6.3607
Buy 300 12/03/2009 $6.3185
Buy 3,600 12/04/2009 $6.4225
Buy 800 12/04/2009 $6.3885
Buy 8,600 12/07/2009 $6.4738
Buy 200 12/07/2009 $6.4675
Buy 2,900 12/10/2009 $6.4542
Buy 1,100 12/11/2009 $6.4437
Buy 100 12/15/2009 $6.4550
Buy 200 12/16/2009 $6.4982
Buy 200 12/16/2009 $6.4585
Buy 1,800 12/17/2009 $6.3336
Buy 1,200 12/18/2009 $6.3241
Buy 1,000 12/21/2009 $6.4432
Buy 2,800 12/21/2009 $6.4085
Buy 800 12/22/2009 $6.4785
Buy 1,000 12/22/2009 $6.4785
Buy 400 12/23/2009 $6.4785
Buy 4,100 12/23/2009 $6.5060
Buy 700 01/21/2010 $6.5285
Buy 800 01/22/2010 $6.5622
Buy 5,400 01/22/2010 $6.5711
Buy 16,400 01/22/2010 $6.5403
WITRP Buy 800 11/25/2009 $6.2963
Buy 200 11/25/2009 $6.2785
Buy 200 11/27/2009 $6.1875
Buy 600 11/27/2009 $6.1085
Buy 1,300 11/30/2009 $6.1703
Buy 3,800 12/01/2009 $6.2510
Buy 300 12/02/2009 $6.3158
Buy 200 12/02/2009 $6.2585
Buy 500 12/03/2009 $6.3607
Buy 400 12/03/2009 $6.3185
Buy 3,600 12/04/2009 $6.4225
Buy 800 12/04/2009 $6.3885
Buy 8,600 12/07/2009 $6.4738
Buy 100 12/07/2009 $6.4675
Buy 2,900 12/10/2009 $6.4542
Buy 1,100 12/11/2009 $6.4437
Buy 200 12/15/2009 $6.4550
Buy 200 12/16/2009 $6.4982
Buy 300 12/16/2009 $6.4585
Buy 1,800 12/17/2009 $6.3336
Buy 1,200 12/18/2009 $6.3241
Buy 1,000 12/21/2009 $6.4432
Buy 2,800 12/21/2009 $6.4085
Buy 800 12/22/2009 $6.4785
Buy 1,000 12/22/2009 $6.4785
Buy 300 12/23/2009 $6.4785
Buy 4,100 12/23/2009 $6.5060
Buy 715 01/21/2010 $6.5285
Buy 800 01/22/2010 $6.5622
Buy 5,300 01/22/2010 $6.5711
Buy 16,500 01/22/2010 $6.5403
MR LIPSON NONE
J MASSEY Buy 817 12/18/2009 $6.3598
Buy 2,000 01/05/2010 $6.6200
Buy 4,700 01/05/2010 $6.6285
Buy 558 01/06/2010 $6.7274
Buy 1,700 01/07/2010 $6.7199
Buy 2,200 01/08/2010 $6.7000
Buy 6,500 01/11/2010 $6.7400
Buy 10,693 01/13/2010 $6.7503
Buy 19,620 01/14/2010 $6.7883
Buy 2,200 01/15/2010 $6.7000
Buy 5,790 01/19/2010 $6.7824
Buy 2,300 01/20/2010 $6.6995
D MASSEY NONE
JOINT FILING AND SOLICITATION AGREEMENT
In accordance with Rule 13d-1(k)(1)(iii) under the Securities
Exchange Act of 1934, as amended, the persons named below agree to
the joint filing on behalf of each of them of a Statement on Schedule
13D dated January 25, 2010 (including further amendments thereto)
with respect to the Common Stock of Gabelli Global Multimedia Trust
Inc. This Joint Filing and Solicitation Agreement shall be filed as
an Exhibit to such Statement.
Dated: January 25, 2010
WESTERN INVESTMENT LLC
By: /s/ Arthur D. Lipson, Managing Member
WESTERN INVESTMENT HEDGED PARTNERS LP
By: Western Investment LLC,
its General Partner
By: /s/ Arthur D. Lipson, Managing Member
WESTERN INVESTMENT TOTAL RETURN PARTNERS LP
By: Western Investment LLC,
its General Partner
By: /s/ Arthur D. Lipson, Managing Member
WESTERN INVESTMENT TOTAL RETURN FUND LTD
By: Western Investment LLC,
its Investment Manager
By: /s/ Arthur D. Lipson, Managing Member
/s/ Arthur D. Lipson
____________________
ARTHUR D. LIPSON
/s/ Joshua Massey
___________________
JOSHUA MASSEY
/s/ David Massey
___________________
DAVID MASSEY