SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934
                               (Amendment No. ___)
Filed by Registrant [ X ]
Filed by a Party other than the Registrant [    ]
Check the appropriate box:
[   ]  Preliminary Proxy Statement
[   ]  Confidential, for Use of the Commission Only (as permitted by Rule
       14a-6(e)(2))
[ X ]  Definitive Proxy Statement
[   ]  Definitive Additional Materials
[   ]  Soliciting Material Pursuant to Sec. 240.14a-11(c) or Sec. 240.14a-12

                    THE GABELLI GLOBAL MULTIMEDIA TRUST INC.

                (Name of Registrant as Specified In Its Charter)

    (Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check the appropriate box):
[X]    No fee required
[ ]    Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.

       1)  Title of each class of securities to which transaction applies:


       2)  Aggregate number of securities to which transaction applies:


       3)  Per unit price or other underlying value of transaction computed
           pursuant to Exchange Act Rule 0-11 (set forth the amount on which the
           filing fee is calculated and state how it was determined):


       4)  Proposed maximum aggregate value of transaction:


       5)  Total fee paid:

[ ]    Fee paid previously with preliminary materials.

[ ]    Check box if any part of the fee is offset as provided by Exchange Act
       Rule 0-11(a)(2) and identify the filing for which the offsetting fee was
       paid previously. Identify the previous filing by registration statement
       number, or the Form or Schedule and the date of its filing.

       1) Amount Previously Paid:


       2) Form, Schedule or Registration Statement No.:


       3) Filing Party:


       4) Date Filed:



                    THE GABELLI GLOBAL MULTIMEDIA TRUST INC.

                              One Corporate Center
                            Rye, New York 10580-1422
                                 (914) 921-5070

                               ------------------

                    NOTICE OF ANNUAL MEETING OF SHAREHOLDERS
                           TO BE HELD ON MAY 14, 2007

                               ------------------

To the Shareholders of
THE GABELLI GLOBAL MULTIMEDIA TRUST INC.

      Notice is hereby  given  that the  Annual  Meeting  of  Shareholders  (the
"Meeting") of The Gabelli Global Multimedia Trust Inc. (the "Fund") will be held
at  The  Cole  Auditorium,  The  Greenwich  Library,  101  West  Putnam  Avenue,
Greenwich,  Connecticut  06830, on Monday,  May 14, 2007, at 10:00 a.m., for the
following purposes:

      1.    To elect three (3)  Directors of the Fund,  two (2)  Directors to be
            elected by the holders of the Fund's Common Stock and holders of its
            6.00% Series B Cumulative  Preferred Stock and Series C Auction Rate
            Cumulative Preferred Stock (together, the "Preferred Stock"), voting
            together as a single  class,  and one (1)  Director to be elected by
            the  holders of the  Fund's  Preferred  Stock,  voting as a separate
            class (PROPOSAL 1); and

      2.    To   consider   and  vote  upon  such   other   matters,   including
            adjournments,  as may  properly  come  before  said  Meeting  or any
            adjournments thereof.

      These  items  are  discussed  in  greater  detail  in the  attached  Proxy
Statement.

      The close of  business on March 12, 2007 has been fixed as the record date
for the  determination of shareholders  entitled to notice of and to vote at the
Meeting and any adjournments thereof.

      YOUR VOTE IS  IMPORTANT  REGARDLESS  OF THE SIZE OF YOUR  HOLDINGS  IN THE
FUND.  WHETHER  OR NOT YOU PLAN TO ATTEND  THE  MEETING,  WE ASK THAT YOU PLEASE
COMPLETE,  SIGN,  AND DATE THE ENCLOSED PROXY CARD AND RETURN IT PROMPTLY IN THE
ENCLOSED  ENVELOPE,  WHICH  NEEDS NO  POSTAGE  IF MAILED IN THE  UNITED  STATES.
INSTRUCTIONS  FOR THE PROPER  EXECUTION  OF PROXIES  ARE SET FORTH ON THE INSIDE
COVER.

                                             By Order of the Board of Directors,


                                             JAMES E. MCKEE
                                             SECRETARY
April 2, 2007



                      INSTRUCTIONS FOR SIGNING PROXY CARDS

      The  following  general rules for signing proxy cards may be of assistance
to you and avoid the time and expense to the Fund  involved in  validating  your
vote if you fail to sign your proxy card properly.

      1.    INDIVIDUAL  ACCOUNTS:  Sign your name  exactly  as it appears in the
            registration on the proxy card.

      2.    JOINT  ACCOUNTS:  Either  party may sign,  but the name of the party
            signing   should   conform   exactly   to  the  name  shown  in  the
            registration.

      3.    ALL OTHER  ACCOUNTS:  The  capacity of the  individuals  signing the
            proxy card should be indicated unless it is reflected in the form of
            registration. For example:

            REGISTRATION                                VALID SIGNATURE
            ------------                                ---------------

            CORPORATE ACCOUNTS

            (1)   ABC Corp.                             ABC Corp.
            (2)   ABC Corp.                             John Doe, Treasurer
            (3)   ABC Corp.
                  c/o John Doe, Treasurer               John Doe
            (4)   ABC Corp., Profit Sharing Plan        John Doe, Trustee

            TRUST ACCOUNTS

            (1)   ABC Trust                             Jane B. Doe, Trustee
            (2)   Jane B. Doe, Trustee
                  u/t/d 12/28/78                        Jane B. Doe

            CUSTODIAN OR ESTATE ACCOUNTS

            (1)   John B. Smith, Cust.
                  f/b/o John B. Smith, Jr. UGMA         John B. Smith
            (2)   John B. Smith, Executor
                  Estate of Jane Smith                  John B. Smith, Executor

                            TELEPHONE/INTERNET VOTING

      Various  brokerage firms may offer the convenience of providing you voting
instructions  via  telephone or the Internet for shares held through such firms.
If  available,  instructions  are included  with this Proxy  Statement and proxy
card.



                    THE GABELLI GLOBAL MULTIMEDIA TRUST INC.

                                   ----------

                         ANNUAL MEETING OF SHAREHOLDERS
                                  MAY 14, 2007

                                   ----------

                                PROXY STATEMENT

      This Proxy Statement is furnished in connection  with the  solicitation of
proxies by the Board of Directors of The Gabelli  Global  Multimedia  Trust Inc.
(the  "Fund") for use at the Annual  Meeting of  Shareholders  of the Fund to be
held on  Monday,  May 14,  2007,  at 10:00  a.m.,  at The Cole  Auditorium,  The
Greenwich Library, 101 West Putnam Avenue, Greenwich,  Connecticut 06830, and at
any  adjournments  thereof  (the  "Meeting").  A Notice  of  Annual  Meeting  of
Shareholders  and proxy card  accompany this Proxy  Statement,  all of which are
first being mailed to shareholders on or about April 2, 2007.

      In addition to the  solicitation of proxies by mail,  officers of the Fund
and  officers  and  regular  employees  of  Computershare  Trust  Company,  N.A.
("Computershare"), the Fund's transfer agent, and affiliates of Computershare or
other  representatives  of the  Fund  also may  solicit  proxies  by  telephone,
telegraph, Internet, or in person. In addition, the Fund has retained The Altman
Group, Inc. to assist in the solicitation of proxies for a minimum fee of $2,500
plus  reimbursement  of  expenses.  The  Fund  will pay the  costs of the  proxy
solicitation  and the expenses  incurred in connection  with preparing the Proxy
Statement and its enclosures.  The Fund will also reimburse  brokerage firms and
others for their expenses in forwarding solicitation materials to the beneficial
owners of its shares.

      THE  FUND'S  MOST  RECENT  ANNUAL  REPORT,   INCLUDING  AUDITED  FINANCIAL
STATEMENTS  FOR THE FISCAL YEAR ENDED  DECEMBER  31,  2006,  IS  AVAILABLE  UPON
REQUEST,  WITHOUT CHARGE, BY WRITING TO THE FUND AT ONE CORPORATE  CENTER,  RYE,
NEW YORK 10580-1422, BY CALLING THE FUND AT 800-422-3554, OR VIA THE INTERNET AT
WWW.GABELLI.COM.

      If the  enclosed  proxy is properly  executed  and  returned in time to be
voted at the Meeting,  the Shares (as defined below) represented thereby will be
voted "FOR" the election of the nominees as Directors listed in the accompanying
Notice of Annual Meeting of  Shareholders,  unless  instructions to the contrary
are  marked  thereon,  and at the  discretion  of the  proxy  holders  as to the
transaction of any other business that may properly come before the Meeting. Any
shareholder  who has given a proxy has the right to revoke it at any time  prior
to its exercise  either by attending the Meeting and voting his or her shares in
person or by submitting a letter of  revocation  or a  later-dated  proxy to the
Fund at the above address prior to the date of the Meeting.

      A quorum of  shareholders  is  constituted by the presence in person or by
proxy  of the  holders  of a  majority  of the  outstanding  shares  of the Fund
entitled  to vote at the  Meeting.  In the event a quorum is not  present at the
Meeting,  or in the event that a quorum is present at the Meeting but sufficient
votes to approve any of the proposed  items are not received,  the persons named
as  proxies  may  propose  one or more  adjournments  of such  Meeting to permit
further  solicitation of proxies. A shareholder vote may be taken on one or more
of the proposals in this Proxy Statement prior to such adjournment if sufficient
votes have been received for approval and it is otherwise appropriate.  Any such
adjournment  will  require the  affirmative  vote of a majority of those  shares
present  at the  Meeting  in  person or by proxy.  If a quorum is  present,  the
persons named as proxies will vote those proxies which they are entitled to vote
"FOR" any  proposal  in favor of such  adjournment  and will vote those  proxies
required to be voted "AGAINST" any proposal against such adjournment. Absent the
establishment  of a  subsequent  record  date and the  giving  of  notice to the
holders of record thereon,  the adjourned  Meeting must take place not more than
120 days after the record date. At such adjourned  Meeting,  any business may be
transacted which might have been transacted at the original Meeting. If a quorum
is  present,  a  shareholder  vote may be taken on one or more of the  proposals
properly brought before the Meeting prior to any adjournment if sufficient votes
have been received and it is otherwise appropriate.


                                       1


      The close of  business on March 12, 2007 has been fixed as the record date
for the  determination of shareholders  entitled to notice of and to vote at the
Meeting and all adjournments thereof.

      The Fund has two classes of capital stock:  common stock, par value $0.001
per share (the "Common  Stock"),  and  preferred  stock  consisting of (i) 6.00%
Series B Cumulative  Preferred  Stock  ("Series B Preferred")  and (ii) Series C
Auction Rate Cumulative  Preferred  Stock ("Series C Preferred"),  each having a
par value of $0.001 per share (together, the "Preferred Stock" and together with
the Common Stock,  the "Shares").  The holders of the Common Stock and Preferred
Stock are each entitled to one vote for each full share held and an  appropriate
fraction of a vote for each  fractional  share held.  On the record date,  there
were  14,018,353  shares of Common Stock,  993,100  shares of Series B Preferred
Stock, and 1,000 shares of Series C Preferred Stock outstanding.

      As of the  record  date,  there  were no  persons  known to the Fund to be
beneficial  owners of more than 5% of the  Fund's  outstanding  shares of Common
Stock or Preferred Stock.

                   SUMMARY OF VOTING RIGHTS ON PROXY PROPOSALS



PROPOSAL              COMMON STOCKHOLDERS                       PREFERRED STOCKHOLDERS
--------              -------------------                       ----------------------
                                                          
1. Election of        Common and Preferred Stockholders,        Common and Preferred Stockholders,
   Directors          voting together as a single class,        voting together as a single class,
                      vote to elect two Directors:              vote to elect two Directors;
                      Mario J. Gabelli, CFA and                 Mario J. Gabelli, CFA and
                      Thomas E. Bratter                         Thomas E. Bratter

                                                                Preferred Stockholders,
                                                                voting as a separate class,
                                                                vote to elect one Director:
                                                                Anthony J. Colavita

2. Other Business     Common and Preferred Stockholders, voting together as a single class


      In order  that your  Shares may be  represented  at the  Meeting,  you are
requested to vote on the following matters:


                                       2


              PROPOSAL 1: TO ELECT THREE (3) DIRECTORS OF THE FUND

NOMINEES FOR THE BOARD OF DIRECTORS

      The Board of Directors is divided into three classes,  each class having a
term of three  years.  Each year the term of office  of one class  will  expire.
Mario J.  Gabelli,  Thomas E.  Bratter,  and Anthony J.  Colavita have each been
nominated  by the  Board of  Directors  for a  three-year  term to expire at the
Fund's 2010 Annual Meeting of  Shareholders  or until their  successors are duly
elected and  qualified.  Anthony J. Colavita has been  nominated by the Board of
Directors  for  election  by the  holders  of the Fund's  Preferred  Stock for a
three-year  term to expire at the Fund's 2010 Annual Meeting of  Shareholders or
until his successor is duly elected and qualified.  Each of the Directors of the
Fund has served in that capacity since the April 6, 1994 organizational  meeting
of the Fund with the exception of (i) Mr.  Fahrenkopf,  who became a Director of
the Fund on August 18, 1999, (ii) Dr. Roeder,  who became a Director of the Fund
on November 17, 1999, and (iii) Mr. Colavita,  who became a Director of the Fund
on August 15,  2001.  All of the  Directors  of the Fund are also  directors  or
trustees  of other  investment  companies  for  which  Gabelli  Funds,  LLC (the
"Adviser")  or its  affiliates  serve as  investment  adviser.  The  classes  of
Directors are indicated below:

NOMINEES TO SERVE UNTIL 2010 ANNUAL MEETING OF SHAREHOLDERS

Mario J. Gabelli, CFA
Thomas E. Bratter
Anthony J. Colavita

DIRECTORS SERVING UNTIL 2009 ANNUAL MEETING OF SHAREHOLDERS

James P. Conn
Anthony R. Pustorino

DIRECTORS SERVING UNTIL 2008 ANNUAL MEETING OF SHAREHOLDERS

Frank J. Fahrenkopf, Jr.
Werner J. Roeder
Salvatore J. Zizza

      Under the Fund's Articles of Incorporation,  Articles  Supplementary,  and
the Investment Company Act of 1940, as amended (the "1940 Act"),  holders of the
Fund's outstanding  Preferred Stock, voting as a separate class, are entitled to
elect two  Directors,  and holders of the Fund's  outstanding  Common  Stock and
Preferred  Stock,  voting together as a single class,  are entitled to elect the
remaining  Directors,  subject to the  provisions of the 1940 Act and the Fund's
Articles of Incorporation,  Articles Supplementary,  and By-Laws. The holders of
the Fund's  outstanding  Preferred  Stock would be entitled to elect the minimum
number of additional  Directors that would represent a majority of the Directors
in the event that dividends on the Fund's Preferred Stock are in arrears for two
full years. No dividend arrearages exist as of the date of this Proxy Statement.
Messrs.  Colavita and Conn are  currently the  Directors  elected  solely by the
holders of the Fund's  Preferred  Stock. A quorum of the Preferred  Stockholders
must be present in person or by proxy at the  Meeting in order for the  proposal
to elect Mr. Colavita to be considered.

      Unless authority is withheld,  it is the intention of the persons named in
the proxy to vote the proxy "FOR" the election of the nominees named above. Each
nominee has indicated that he has consented to serve as a Director if elected at
the Meeting.  If a designated nominee declines or otherwise becomes  unavailable
for  election,  however,  the proxy confers  discretionary  power on the persons
named therein to vote in favor of a substitute nominee or nominees.


                                       3


INFORMATION ABOUT DIRECTORS AND OFFICERS

      Set forth in the table below are the existing  Directors  and Nominees for
election  to  the  Board  of the  Fund  and  officers  of  the  Fund,  including
information  relating to their respective  positions held with the Fund, a brief
statement of their principal  occupations  during the past five years, and other
directorships (excluding other funds managed by the Adviser), if any.



                              TERM OF                                                                                    NUMBER OF
                             OFFICE AND                                                                                PORTFOLIOS IN
NAME, POSITION(S)            LENGTH OF                                                                                  FUND COMPLEX
    ADDRESS 1                   TIME              PRINCIPAL OCCUPATION(S)             OTHER DIRECTORSHIPS                 OVERSEEN
     AND AGE                  SERVED 2            DURING PAST FIVE YEARS                HELD BY DIRECTOR                BY DIRECTOR
     -------                  ------              ----------------------                ----------------                -----------
                                                                                                                 
INTERESTED DIRECTOR/NOMINEE 3:

MARIO J. GABELLI            Since 1994*    Chairman and Chief Executive             Director of Morgan Group                 24
Director and                               Officer of GAMCO Investors, Inc.;        Holdings, Inc. (holding
Chief Investment Officer                   Chief Investment Officer -               company); Chairman of the
Age: 64                                    Value Portfolios of Gabelli Funds,       Board of Lynch Interactive
                                           LLC and GAMCO Asset                      Corporation (multimedia
                                           Management Inc.; Chief                   and communication
                                           Executive Officer of                     services)
                                           GGCP, Inc.

INDEPENDENT DIRECTORS/NOMINEES:

THOMAS E. BRATTER           Since 1994*    Director, President and Founder of                 --                               3
Director                                   The John Dewey Academy
Age: 67                                    (residential college preparatory
                                           therapeutic high school)

ANTHONY J. COLAVITA 4       Since 2001*    Partner in the law firm of Anthony J.              --                              34
Director                                   Colavita, P.C.
Age: 71

JAMES P. CONN 4             Since 1994**   Former Managing Director and             Director of First Republic Bank           15
Director                                   Chief Investment Officer of              (banking)
Age: 69                                    Financial Security Assurance
                                           Holdings Ltd. (insurance holding
                                           company) (1992-1998)

FRANK J. FAHRENKOPF, JR.   Since 1999***   President and Chief Executive            Director of First Republic Bank            5
Director                                   Officer of the American Gaming           (banking)
Age: 67                                    Association; Co-Chairman of the
                                           Commission on Presidential Debates;
                                           Chairman of the Republican
                                           National Committee (1983-1989)

ANTHONY R. PUSTORINO        Since 1994**   Certified Public Accountant;             Director of The LGL Group, Inc.           14
Director                                   Professor Emeritus, Pace University      (diversified manufacturing)
Age: 81

WERNER J. ROEDER           Since 1999***   Medical Director of Lawrence                       --                              23
Director                                   Hospital and practicing private
Age: 66                                    physician

SALVATORE J. ZIZZA         Since 1994***   Chairman of Zizza & Co., Ltd.            Director of Hollis-Eden                   25
Director                                   (consulting)                             Pharmaceuticals (biotechnology)
Age: 61                                                                             and Earl Scheib, Inc. (automotive
                                                                                    services)



                                       4




                                         TERM OF
                                        OFFICE AND
NAME, POSITION(S)                       LENGTH OF
    ADDRESS 1                              TIME                 PRINCIPAL OCCUPATION(S)
    AND AGE                               SERVED                DURING PAST FIVE YEARS
    -------                               ------                ----------------------
                                                     
OFFICERS:

BRUCE N. ALPERT                         Since 2003         Executive Vice President and Chief
President                                                  Operating Officer of Gabelli Funds,
Age: 55                                                    LLC since 1988; Director and
                                                           President of Gabelli Advisers, Inc. since
                                                           1998; Officer of all registered
                                                           investment companies in the Gabelli
                                                           Funds complex.

PETER D. GOLDSTEIN                      Since 2004         Director of Regulatory Affairs for
Chief Compliance Officer                                   GAMCO Investors, Inc. since 2004;
Age: 53                                                    Chief Compliance Officer of all
                                                           registered investment companies in
                                                           the Gabelli Funds complex; Vice President
                                                           of Goldman Sachs Asset Management
                                                           from 2000-2004.

LAURISSA M. MARTIRE                     Since 2004         Vice President of the Fund since 2004; Vice
Vice President                                             President of The Gabelli Convertible and Income
Age: 30                                                    Securities Fund Inc. since 2004; Assistant Vice
                                                           President of GAMCO Investors, Inc. since 2003;
                                                           Sales Assistant for GAMCO Asset Management Inc.
                                                           prior to 2003.

JAMES E. MCKEE                          Since 1995         Vice President, General Counsel and
Secretary                                                  Secretary of GAMCO Investors, Inc.
Age: 43                                                    since 1999 and GAMCO Asset
                                                           Management Inc. since 1993; Secretary
                                                           of all registered investment companies
                                                           advised by Gabelli Advisers, Inc. and
                                                           Gabelli Funds, LLC.

AGNES MULLADY                           Since 2006         Officer of all registered investment companies
Treasurer                                                  in the Gabelli Funds complex; Vice President of
Age: 48                                                    Gabelli Funds, LLC since 2007; Senior Vice President of
                                                           U.S. Trust Company, N.A. and Treasurer and Chief
                                                           Financial Officer of Excelsior Funds from 2004-2005;
                                                           Chief Financial Officer of AMIC Distribution Partners from
                                                           2002-2004; Controller of Reserve Management, Inc.
                                                           and Reserve Partners, Inc. and Treasurer of Reserve Funds
                                                           from 2000-2002.

LOAN P. NGUYEN                          Since 2004         Vice President of the Fund since 2004; Vice President of
Vice President and Ombudsman                               The Gabelli Equity Trust Inc. since 2006; Assistant Vice
Age: 24                                                    President of GAMCO Investors, Inc. since 2006; Portfolio
                                                           Administrator for Gabelli Funds, LLC during 2004;
                                                           Student at Boston College prior to 2004.


----------
  1   Address: One Corporate Center, Rye, NY 10580-1422, unless otherwise noted.

  2   The Fund's Board of Directors  is divided into three  classes,  each class
      having a term of three  years.  Each  year the term of office of one class
      expires and the successor or successors  elected to such class serve for a
      three-year term.

  3   "Interested person" of the Fund as defined in the 1940 Act. Mr. Gabelli is
      considered an "interested  person" of the Fund because of his  affiliation
      with Gabelli  Funds,  LLC,  which is the Fund's  investment  adviser,  and
      Gabelli & Company,  Inc.,  which executes  portfolio  transactions for the
      Fund,  and  as a  controlling  shareholder  because  of the  level  of his
      ownership of common shares of the Fund.

  4   As a  Director,  elected  solely by the  holders of the  Fund's  Preferred
      Stock.

  *   Nominee to serve,  if elected,  until the Fund's  2010  Annual  Meeting of
      Shareholders or until his successor is duly elected and qualified.

 **   Term  continues  until the Fund's 2009 Annual Meeting of  Shareholders  or
      until his successor is duly elected and qualified.

***   Term  continues  until the Fund's 2008 Annual Meeting of  Shareholders  or
      until his successor is duly elected and qualified.


                                       5


BENEFICIAL  OWNERSHIP  OF SHARES HELD IN THE FUND AND THE FUND  COMPLEX FOR EACH
DIRECTOR AND NOMINEE FOR ELECTION AS DIRECTOR

      Set forth in the table below is the dollar range of equity  securities  in
the Fund  beneficially  owned by each  Director  and  Nominee  for  election  as
Director and the aggregate dollar range of equity securities in the Fund complex
beneficially owned by each Director and Nominee for election as Director.



    NAME OF DIRECTOR/NOMINEE                DOLLAR RANGE OF EQUITY      AGGREGATE DOLLAR RANGE OF EQUITY
                                               SECURITIES HELD                  SECURITIES HELD
                                               IN THE FUND*(1)              IN FUND COMPLEX*(1)(2)
                                                                               
INTERESTED DIRECTOR/NOMINEE:

Mario J. Gabelli                                      E                               E

INDEPENDENT DIRECTORS/NOMINEES:

Thomas E. Bratter                                     C                               E

Anthony J. Colavita**                                 C                               E

James P. Conn                                         E                               E

Frank J. Fahrenkopf, Jr.                              A                               B

Anthony R. Pustorino**                                C                               E

Werner J. Roeder                                      A                               E

Salvatore J. Zizza                                    E                               E


----------
*     KEY TO DOLLAR RANGES
      A. None
      B. $1 - $10,000
      C. $10,001 - $50,000
      D. $50,001 - $100,000
      E. Over $100,000
      All shares were valued as of December 31, 2006.
**    Messrs.  Colavita and Pustorino each  beneficially own less than 1% of the
      common stock of The LGL Group, Inc., having a value of $9,338 and $14,028,
      respectively,  as of December 31, 2006. The LGL Group,  Inc. may be deemed
      to be  controlled by Mario J. Gabelli and in that event would be deemed to
      be under common control with the Fund's Adviser.
(1)   This  information  has been  furnished  by each  Director  and Nominee for
      election as Director as of December 31, 2006.  "Beneficial  Ownership"  is
      determined  in  accordance  with  Section  16a-1(a)(2)  of the  Securities
      Exchange Act of 1934, as amended (the "1934 Act").
(2)   The "Fund Complex"  includes all the funds that are considered part of the
      same fund  complex  as the Fund  because  they have  common or  affiliated
      investment advisers.


                                       6


      Set forth in the table below is the amount of shares beneficially owned by
each Director of the Fund.



                                             AMOUNT AND NATURE OF           PERCENT OF SHARES
NAME OF DIRECTOR/NOMINEE                   BENEFICIAL OWNERSHIP (1)          OUTSTANDING (2)
------------------------                   ------------------------          ---------------
                                                                             
INTERESTED DIRECTOR/NOMINEE:

      Mario J. Gabelli                             563,064(3)                      4.0%

INDEPENDENT DIRECTORS/NOMINEES:

      Thomas E. Bratter                             1,521                            *
      Anthony J. Colavita                           2,500 (4)                        *
      James P. Conn                                 15,986                           *
                                           1,000 Series B Preferred                  *
      Frank J. Fahrenkopf, Jr.                        0                              *
      Anthony R. Pustorino                          3,019 (5)                        *
      Werner J. Roeder                                0                              *
      Salvatore J. Zizza                            7,557 (6)                        *
                                           3,000 Series B Preferred (7)              *


(1)   This  information  has been  furnished  by each  Director  and Nominee for
      election as Director as of December 31, 2006.  "Beneficial  Ownership"  is
      determined  in  accordance  with  Section  16a-1(a)(2)  of the  1934  Act.
      Reflects ownership of common shares unless oth- erwise noted.

(2)   An asterisk  indicates that the ownership amount  constitutes less than 1%
      of the total shares outstanding.

(3)   Includes 232,528 common shares owned directly by Mr. Gabelli, 8,582 common
      shares  owned by a family  partnership  for  which Mr.  Gabelli  serves as
      general partner, and 321,954 common shares owned by GAMCO Investors,  Inc.
      or its  affiliates.  Mr. Gabelli dis- claims  beneficial  ownership of the
      shares held by the discretionary accounts and by the entities named except
      to the extent of his interest in such entities.

(4)   Comprised of 2,500 common shares owned by Mr.  Colavita's spouse for which
      he disclaims beneficial ownership.

(5)   Includes 1,056 common shares owned by Mr.  Pustorino's spouse for which he
      disclaims beneficial ownership.

(6)   Includes  5,335  common  shares  owned by Mr.  Zizza's  sons for  which he
      disclaims beneficial ownership.

(7)   Comprised of 3,000 preferred shares owned by Mr. Zizza's sons for which he
      disclaims beneficial ownership.

      The Fund pays each Director who is not affiliated  with the Adviser or its
affiliates a fee of $6,000 per year plus $500 per meeting attended in person and
by telephone,  including Committee meetings, together with the Director's actual
out-of-pocket expenses relating to his attendance at such meetings. In addition,
the Audit Committee Chairman receives an annual fee of $3,000 and the Nominating
Committee Chairman receives an annual fee of $2,000. The aggregate  remuneration
(not including  out-of-pocket expenses) paid by the Fund to the Directors during
the fiscal year ended  December 31, 2006 amounted to $64,000.  During the fiscal
year ended  December 31, 2006,  the  Directors of the Fund met four times.  Each
Director then serving in such capacity  attended at least 75% of the meetings of
Directors and of any Committee of which he is a member.

AUDIT COMMITTEE REPORT

      The role of the Fund's  Audit  Committee  (the  "Audit  Committee")  is to
assist the Board of Directors in its  oversight of (i) the quality and integrity
of the Fund's financial  statement  reporting  process and the independent audit
and reviews thereof; (ii) the Fund's accounting and financial reporting policies
and practices, its internal controls, and, as appropriate, the internal controls
of certain of its service providers;  (iii) the Fund's compliance with legal and
regulatory  requirements;  and (iv) the independent registered public accounting
firm's qualifications,  independence,  and performance. The Audit Committee also
is required to prepare an audit  committee  report  pursuant to the rules of the
Securities  and  Exchange  Commission  (the "SEC") for  inclusion  in the Fund's
annual  proxy  statement.  The Audit  Committee  operates  pursuant to the Audit
Committee  Charter (the "Charter") that was most recently  reviewed and approved
by the Board of Directors on February 22, 2007.

      Pursuant to the Charter, the Audit Committee is responsible for conferring
with the Fund's independent  registered public accounting firm, reviewing annual
financial  statements,   approving  the  selection  of  the  Fund's  independent
registered public accounting firm, and overseeing the Fund's internal  controls.
The Charter also contains


                                       7


provisions  relating  to the  pre-approval  by the Audit  Committee  of  certain
non-audit    services   to   be   provided   by    PricewaterhouseCoopers    LLP
("PricewaterhouseCoopers")  to the Fund and to the  Adviser  and  certain of its
affiliates.  The  Audit  Committee  advises  the  full  Board  with  respect  to
accounting,  auditing, and financial matters affecting the Fund. As set forth in
the Charter,  management is responsible for maintaining  appropriate systems for
accounting and internal control,  and the Fund's  independent  registered public
accounting  firm is responsible  for planning and carrying out proper audits and
reviews.  The  independent  registered  public  accounting  firm  is  ultimately
accountable  to  the  Board  of  Directors  and  to  the  Audit  Committee,   as
representatives  of shareholders.  The independent  registered public accounting
firm for the Fund reports directly to the Audit Committee.

      In performing  its oversight  function,  at a meeting held on February 20,
2007, the Audit Committee reviewed and discussed with management of the Fund and
PricewaterhouseCoopers  the audited  financial  statements of the Fund as of and
for the fiscal year ended  December 31, 2006,  and  discussed  the audit of such
financial statements with the independent registered public accounting firm.

      In addition, the Audit Committee discussed with the independent registered
public  accounting firm the accounting  principles  applied by the Fund and such
other matters brought to the attention of the Audit Committee by the independent
registered public accounting firm as required by Statement of Auditing Standards
No.  61,  COMMUNICATIONS  WITH  AUDIT  COMMITTEES,   as  currently  modified  or
supplemented.  The Audit Committee also received from the independent registered
public  accounting firm the written  disclosures and statements  required by the
SEC's  independence  rules,  delineating  relationships  between the independent
registered  public  accounting  firm and the Fund, and discussed the impact that
any such  relationships  might have on the objectivity  and  independence of the
independent registered public accounting firm.

      As set forth above, and as more fully set forth in the Charter,  the Audit
Committee has  significant  duties and powers in its oversight role with respect
to the Fund's financial reporting procedures,  internal control systems, and the
independent audit process.

     The members of the Audit Committee are not, and do not represent themselves
to be, professionally  engaged in the practice of auditing or accounting and are
not  employed  by the Fund for  accounting,  financial  management,  or internal
control  purposes.  Moreover,  the  Audit  Committee  relies  on  and  makes  no
independent verification of the facts presented to it or representations made by
management  or  the  Fund's  independent   registered  public  accounting  firm.
Accordingly,  the Audit  Committee's  oversight  does not provide an independent
basis to determine that management has maintained  appropriate accounting and/or
financial   reporting   principles  and  policies,   or  internal  controls  and
procedures,   designed  to  assure  compliance  with  accounting  standards  and
applicable   laws  and   regulations.   Furthermore,   the   Audit   Committee's
considerations  and discussions  referred to above do not provide assurance that
the audit of the Fund's financial  statements has been carried out in accordance
with the  standards of the Public  Company  Accounting  Oversight  Board (United
States) or that the  financial  statements  are  presented  in  accordance  with
generally accepted accounting principles (United States).

      Based on its  consideration  of the audited  financial  statements and the
discussions  referred  to  above  with  management  and the  Fund's  independent
registered  public  accounting  firm,  and  subject  to the  limitations  on the
responsibilities  and role of the Audit  Committee  set forth in the Charter and
those discussed  above,  the Audit Committee  recommended to the Fund's Board of
Directors that the Fund's audited financial statements be included in the Fund's
Annual Report for the fiscal year ended December 31, 2006.

      SUBMITTED BY THE AUDIT COMMITTEE OF THE FUND'S BOARD OF DIRECTORS

      Anthony R. Pustorino, Chairman
      Werner J. Roeder
      Salvatore J. Zizza

      February 22, 2007


                                       8


      The Audit  Committee  met twice during the fiscal year ended  December 31,
2006.  The  Audit  Committee  is  composed  of three of the  Fund's  independent
Directors  (as such term is  defined by the New York  Stock  Exchange's  listing
standards (the "NYSE Listing Standards")), namely Messrs. Pustorino, Roeder, and
Zizza.  Each member of the Audit  Committee has been  determined by the Board of
Directors to be financially literate.

NOMINATING COMMITTEE

      The  Board of  Directors  has a  Nominating  Committee  composed  of three
independent  Directors (as such term is defined by the NYSE Listing  Standards),
namely Messrs.  Colavita,  Roeder, and Zizza. The Nominating  Committee met once
during the fiscal year ended  December 31,  2006.  The  Nominating  Committee is
responsible  for  identifying  and   recommending  to  the  Board  of  Directors
individuals believed to be qualified to become Board members in the event that a
position is vacated or created.  The Nominating Committee will consider Director
candidates  recommended by shareholders.  In considering candidates submitted by
shareholders, the Nominating Committee will take into consideration the needs of
the Board of Directors,  the qualifications of the candidate,  and the interests
of shareholders.  The Nominating  Committee may also take into consideration the
number of shares  held by the  recommending  shareholder  and the length of time
that such shares have been held. To recommend a candidate for  consideration  by
the  Nominating  Committee,  a  shareholder  must submit the  recommendation  in
writing and must include the following information:

      o     The  name  of the  shareholder  and  evidence  of the  shareholder's
            ownership  of  shares of the Fund,  including  the  number of shares
            owned and the length of time of ownership;

      o     The name of the candidate,  the  candidate's  resume or a listing of
            his or her  qualifications  to be a  Director  of the Fund,  and the
            person's  consent  to be  named as a  Director  if  selected  by the
            Nominating Committee and nominated by the Board of Directors; and

      o     If requested by the  Nominating  Committee,  a completed  and signed
            director's questionnaire.

      The shareholder  recommendation  and  information  described above must be
sent to James E. McKee,  the Fund's  Secretary,  c/o Gabelli  Funds,  LLC at One
Corporate Center,  Rye, NY 10580-1422,  and must be received by the Secretary no
less than 120 days  prior to the  anniversary  date of the  Fund's  most  recent
annual  meeting of  shareholders  or, if the  meeting  has moved by more than 30
days, a reasonable amount of time before the meeting.

      The  Nominating  Committee  believes that the minimum  qualifications  for
serving  as a  Director  of the Fund are that  the  individual  demonstrate,  by
significant  accomplishment in his or her field, an ability to make a meaningful
contribution to the Board of Directors' oversight of the business and affairs of
the Fund and have an  impeccable  record and  reputation  for honest and ethical
conduct in both his or her  professional and personal  activities.  In addition,
the Nominating Committee examines a candidate's specific experiences and skills,
time  availability  in  light  of  other  commitments,  potential  conflicts  of
interest,  and  independence  from  management  and  the  Fund.  The  Nominating
Committee  also seeks to have the Board of  Directors  represent a diversity  of
backgrounds and experience.

      The Fund's  Nominating  Committee  adopted a charter on May 12, 2004,  and
amended the charter on November 17, 2004. The charter can be found on the Fund's
website at www.gabelli.com.

OTHER BOARD-RELATED MATTERS

      The Board of Directors has established  the following  procedures in order
to facilitate  communications between the Board and the shareholders of the Fund
and other interested parties.

RECEIPT OF COMMUNICATIONS

      Shareholders  and other  interested  parties  may contact the Board or any
member of the Board by mail or electronically.  To communicate with the Board or
any member of the Board,  correspondence should be addressed to the Board or the
Board  member(s) with whom you wish to communicate by either name or title.  All
such  correspondence  should be sent c/o the Fund at One Corporate Center,  Rye,
NY, 10580-1422.  To communicate with the Board electronically,  shareholders may
send an e-mail to gabellifundsboard@gabelli.com.


                                       9


FORWARDING THE COMMUNICATIONS

      All  communications  received  will be opened by the office of the General
Counsel of the Adviser for the sole purpose of determining  whether the contents
represent a message to one or more Directors.  The office of the General Counsel
will forward  promptly to the  addressee(s) any contents that relate to the Fund
and that  are not in the  nature  of  advertising,  promotion  of a  product  or
service, or patently offensive or otherwise  objectionable material. In the case
of communications to the Board of Directors or any committee or group of members
of the Board, the General  Counsel's  office will make sufficient  copies of the
contents to send to each  Director  who is a member of the group or committee to
which the envelope or e-mail is addressed.

      The Fund does not expect Directors or Nominees for election as Director to
attend the Annual Meeting of Shareholders.

      The  following  table  sets  forth  certain   information   regarding  the
compensation  of the Fund's  Directors  and  officers  for the fiscal year ended
December 31, 2006. Ms. Nguyen is employed by the Fund and is not employed by the
Adviser  (although she may receive  incentive-based  variable  compensation from
affiliates of the Adviser). Officers of the Fund who are employed by the Adviser
receive no compensation or expense reimbursement from the Fund.

                               COMPENSATION TABLE
                   FOR THE FISCAL YEAR ENDED DECEMBER 31, 2006



                                                                       AGGREGATE COMPENSATION FROM
                                       AGGREGATE COMPENSATION           THE FUND AND FUND COMPLEX
NAME OF PERSON AND POSITION                 FROM THE FUND             PAID TO DIRECTORS AND OFFICERS*
---------------------------                 -------------             -------------------------------
                                                                         
INTERESTED DIRECTOR/NOMINEE:

MARIO J. GABELLI                              $      0                         $      0  (24)#
Chairman of the Board and
Chief Investment Officer

INDEPENDENT DIRECTORS/NOMINEES:

THOMAS E. BRATTER                             $  8,000                         $ 34,000   (3)
Director

ANTHONY J. COLAVITA                           $ 10,000                         $199,383  (34)#
Director

JAMES P. CONN                                 $  8,000                         $ 88,500  (14)
Director

FRANK J. FAHRENKOPF, JR                       $  8,000                         $ 60,000   (5)
Director

ANTHONY R. PUSTORINO                          $ 12,000                         $139,500  (14)
Director

WERNER J. ROEDER                              $  9,000                         $101,000  (23)
Director

SALVATORE J. ZIZZA                            $  9,000                         $139,383  (25)#
Director

OFFICER:

LOAN P. NGUYEN                                $115,000                         $115,000   (1)
Vice President and Ombudsman


----------
*     Represents the total  compensation  paid to such persons during the fiscal
      year ended December 31, 2006 by investment  companies (including the Fund)
      or portfolios  thereof from which such person receives  compensation  that
      are considered part of the same fund complex as the Fund because they have
      common or  affiliated  investment  advisers.  The  number  in  parentheses
      represents the num- ber of such investment companies and portfolios.

#     Includes  compensation  for  serving  as a Trustee  of Ned Davis  Research
      Funds, Inc., which was liquidated on February 10, 2006.


                                       10


REQUIRED VOTE

      The  election  of each of the listed  Nominees  for  Director  of the Fund
requires the  affirmative  vote of the holders of a plurality of the  applicable
class or classes of Shares of the Fund represented at the Meeting if a quorum is
present.

      THE BOARD OF DIRECTORS,  INCLUDING THE INDEPENDENT DIRECTORS,  UNANIMOUSLY
RECOMMENDS THAT THE COMMON AND PREFERRED SHAREHOLDERS VOTE "FOR" THE ELECTION OF
EACH NOMINEE.

                             ADDITIONAL INFORMATION

INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

      PricewaterhouseCoopers,  300 Madison Avenue,  New York, NY 10017, has been
selected to serve as the Fund's  independent  registered  public accounting firm
for the fiscal year ending  December 31, 2007.  PricewaterhouseCoopers  acted as
the Fund's  independent  registered  public  accounting firm for the fiscal year
ended  December  31,  2006.  The Fund knows of no direct  financial  or material
indirect   financial   interest  of   PricewaterhouseCoopers   in  the  Fund.  A
representative of PricewaterhouseCoopers will not be present at the Meeting, but
will be available by telephone and will have an opportunity to make a statement,
if asked, and will be available to respond to appropriate questions.

      Set forth in the table  below are audit fees and  non-audit  related  fees
billed to the Fund by PricewaterhouseCoopers  for professional services received
during and for the fiscal years ended December 31, 2005 and 2006, respectively.

        FISCAL YEAR ENDED                AUDIT-RELATED                    ALL
           DECEMBER 31      AUDIT FEES        FEES*      TAX FEES**   OTHER FEES
           -----------      ----------        -----      ----------   ----------
               2005            $43,500       $8,600        $2,880         --
               2006            $46,500       $8,600        $3,100         --

----------
*     "Audit-Related   Fees"   are   those   fees   billed   to  the   Fund   by
      PricewaterhouseCoopers  in connection  with the  preparation  of Preferred
      Shares Reports to Moody's Investors Service, Inc. and Fitch Ratings.

**    "Tax Fees" are those fees billed by  PricewaterhouseCoopers  in connection
      with tax compliance services, including primarily the review of the Fund's
      income tax returns.

      The Fund's  Audit  Committee  Charter  requires  that the Audit  Committee
pre-approve  all audit and non-audit  services to be provided by the independent
registered public accounting firm to the Fund, and all non-audit  services to be
provided by the  independent  registered  public  accounting  firm to the Fund's
Adviser  and  service  providers  controlling,  controlled  by, or under  common
control with the Fund's Adviser ("affiliates") that provide on-going services to
the Fund (a "Covered Services Provider"),  if the engagement relates directly to
the  operations  and financial  reporting of the Fund.  The Audit  Committee may
delegate  its  responsibility  to  pre-approve  any such  audit and  permissible
non-audit services to the Chairman of the Audit Committee, and the Chairman must
report his decision(s) to the Audit Committee,  at its next regularly  scheduled
meeting after the Chairman's  pre-approval of such services. The Audit Committee
may  also   establish   detailed   pre-approval   policies  and  procedures  for
pre-approval of such services in accordance with applicable laws,  including the
delegation of some or all of the Audit Committee's pre-approval responsibilities
to other persons (other than the Adviser or the Fund's  officers).  Pre-approval
by the Audit Committee of any permissible  non-audit services is not required so
long as: (i) the aggregate  amount of all such  permissible  non-audit  services
provided to the Fund, the Adviser, and any Covered Services Provider constitutes
not  more  than 5% of the  total  amount  of  revenues  paid by the  Fund to its
independent  registered  public  accounting  firm  during  the year in which the
permissible  non-audit  services are provided;  (ii) the  permissible  non-audit
services  were not  recognized  by the Fund at the time of the  engagement to be
non-audit  services;  and  (iii)  such  services  are  promptly  brought  to the
attention  of the Audit  Committee  and  approved by the Audit  Committee or the
Chairman prior to the completion of the audit. All of the audit,  audit-related,
and tax services  described  above for which  PricewaterhouseCoopers  billed the
Fund fees for the fiscal  years ended  December  31, 2005 and  December 31, 2006
were pre-approved by the Audit Committee.


                                       11


      For the fiscal year ended  December 31, 2006,  PricewaterhouseCoopers  has
represented to the Fund that it did not provide any non-audit  services (or bill
any fees for such  services)  to the  Adviser  or any  affiliates  thereof  that
provide services to the Fund.

THE INVESTMENT ADVISER AND ADMINISTRATOR

      Gabelli  Funds,  LLC is the  Fund's  Adviser  and  Administrator  and  its
business address is One Corporate Center, Rye, New York 10580-1422.

COMPLIANCE WITH THE SECURITIES EXCHANGE ACT OF 1934

      Section  16(a) of the 1934 Act and Section  30(h) of the 1940 Act, and the
rules thereunder, require the Fund's executive officers and Directors, executive
officers and directors of the Adviser,  certain other affiliated  persons of the
Adviser,  and persons who own more than 10% of a registered  class of the Fund's
securities  to file reports of ownership  and changes in ownership  with the SEC
and the New York  Stock  Exchange  and to  furnish  the Fund with  copies of all
Section  16(a) forms they file.  Based solely on the Fund's review of the copies
of such forms it received for the fiscal year ended  December 31, 2006, the Fund
believes that during that year such persons  complied  with all such  applicable
filing requirements.

BROKER NON-VOTES AND ABSTENTIONS

      For  purposes of  determining  the  presence  of a quorum for  transacting
business at the Meeting,  abstentions and broker  "non-votes"  (that is, proxies
from  brokers  or  nominees  indicating  that  such  persons  have not  received
instructions  from the beneficial owner or other persons entitled to vote shares
on a particular matter with respect to which the brokers or nominees do not have
discretionary  power)  will be treated as shares  that are present but that have
not been voted.  Accordingly,  shareholders  are urged to forward  their  voting
instructions promptly.

      The affirmative  vote of a plurality of votes cast for each Nominee by the
shareholders  entitled to vote for a  particular  Nominee is  necessary  for the
election of a Director.  Abstentions or broker  non-votes will not be counted as
votes  cast and will have no effect on the  result of the vote.  Abstentions  or
broker non-votes,  however,  will be considered to be present at the Meeting for
purposes of determining the existence of a quorum.

      Shareholders  of the Fund will be  informed  of the voting  results of the
Meeting in the Fund's Semi-Annual Report dated June 30, 2007.

                    OTHER MATTERS TO COME BEFORE THE MEETING

      The  Directors of the Fund do not intend to present any other  business at
the  Meeting,  nor are they  aware  that any  shareholder  intends to do so. If,
however, any other matters, including adjournments,  are properly brought before
the Meeting,  the persons named in the  accompanying  proxy will vote thereon in
accordance with their judgment.

                              SHAREHOLDER PROPOSALS

      All  proposals  by  shareholders  of the Fund  which  are  intended  to be
presented at the Fund's next Annual Meeting of  Shareholders  to be held in 2008
must be received by the Fund for consideration for inclusion in the Fund's proxy
statement  and proxy  relating to that meeting no later than  December 17, 2007.
There are additional  requirements  regarding  proposals of shareholders,  and a
shareholder  contemplating  submission  of a proposal  is referred to Rule 14a-8
under the 1934 Act.

      IT IS IMPORTANT THAT PROXIES BE RETURNED PROMPTLY. SHAREHOLDERS WHO DO NOT
EXPECT TO ATTEND THE MEETING ARE THEREFORE  URGED TO COMPLETE,  SIGN,  DATE, AND
RETURN THE PROXY CARD AS SOON AS POSSIBLE IN THE ENCLOSED POSTAGE-PAID ENVELOPE.


                                       12



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                                       13


[LOGO] GABELLI FUNDS

000004

MR A SAMPLE
DESIGNATION (IF ANY)
ADD 1
ADD 2
ADD 3
ADD 4
ADD 5
ADD 6

000000000.000000 ext
000000000.000000 ext
000000000.000000 ext
000000000.000000 ext
000000000.000000 ext
000000000.000000 ext

C 123456789

            Using a BLACK INK pen, mark your votes with an X as shown in     |X|
            this example. Please do not write outside the designated areas.

--------------------------------------------------------------------------------
ANNUAL MEETING PROXY CARD                                   COMMON SHAREHOLDER
--------------------------------------------------------------------------------

                    THE GABELLI GLOBAL MULTIMEDIA TRUST INC.

THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

The undersigned  hereby  appoints Mario J. Gabelli,  James E. McKee and Bruce N.
Alpert,  and each of them,  attorneys and proxies of the undersigned,  with full
powers of substitution and revocation,  to represent the undersigned and to vote
on behalf of the undersigned all shares of The Gabelli Global  Multimedia  Trust
Inc.  (the  "Fund")  which the  undersigned  is  entitled  to vote at the Annual
Meeting  of  Shareholders  of the  Fund to be held at The Cole  Auditorium,  The
Greenwich  Library,  101 West Putnam  Avenue,  Greenwich,  Connecticut  06830 on
Monday,  May 14,  2007 at  10:00  a.m.,  and at any  adjournments  thereof.  The
undersigned  hereby  acknowledges  receipt of the  Notice of  Meeting  and Proxy
Statement and hereby instructs said attorneys and proxies to vote said shares as
indicated herein.  In their discretion,  the proxies are authorized to vote upon
such other business as may properly come before the Meeting.

A majority  of the  proxies  present  and acting at the  Meeting in person or by
substitute  (or, if only one shall be so present,  then that one) shall have and
may exercise  all of the power and  authority  of said  proxies  hereunder.  The
undersigned hereby revokes any proxy previously given.

This proxy,  if properly  executed,  will be voted in the manner directed by the
undersigned  shareholder.  If no direction is made, this proxy will be voted FOR
the  election of the nominees as Directors  and in the  discretion  of the proxy
holder as to any other matter that may properly come before the Meeting.  Please
refer to the Proxy Statement for a discussion of Proposal No. 1.

--------------------------------------------------------------------------------
PLEASE VOTE, DATE AND SIGN BELOW AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE.
--------------------------------------------------------------------------------

A ELECTION OF DIRECTORS -- THE BOARD OF DIRECTORS RECOMMENDS A VOTE FOR ALL
NOMINEES LISTED.

1. To elect two (2) Directors of the Fund:

                              FOR    WITHHOLD
01 - Mario J. Gabelli, CFA    |_|      |_|

                              FOR    WITHHOLD
02 - Thomas E. Bratter        |_|      |_|

B NON-VOTING ITEMS

CHANGE OF ADDRESS -- Please print new address below.
---------------------------------------------------------

---------------------------------------------------------

COMMENTS -- Please print your comments below.
---------------------------------------------------------

---------------------------------------------------------

C AUTHORIZED SIGNATURES -- THIS SECTION MUST BE COMPLETED FOR YOUR VOTE TO BE
COUNTED. -- DATE AND SIGN BELOW

Please sign this proxy  exactly as your name(s)  appear(s) in the records of the
Fund. If joint owners,  either may sign.  Trustees and other fiduciaries  should
indicate the capacity in which they sign,  and where more than one name appears,
a majority  must sign. If a  corporation,  this  signature  should be that of an
authorized officer who should state his or her title.

Signature 1 -- Please keep signature within the box.
---------------------

---------------------

Signature 2 -- Please keep signature within the box.
---------------------

---------------------

Date (mm/dd/yyyy) -- Please print date below.
---------------------
    /    /
---------------------

C 1234567890           J N T   MR A SAMPLE (THIS AREA IS SET UP TO ACCOMMODATE
                               140 CHARACTERS) MR A SAMPLE AND MR A SAMPLE AND
                               MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND
1 U P X        0 1 2 5 6 1 1   MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND +


[LOGO] GABELLI FUNDS

000004

MR A SAMPLE
DESIGNATION (IF ANY)
ADD 1
ADD 2
ADD 3
ADD 4
ADD 5
ADD 6

000000000.000000 ext
000000000.000000 ext
000000000.000000 ext
000000000.000000 ext
000000000.000000 ext
000000000.000000 ext

C 123456789

            Using a BLACK INK pen, mark your votes with an X as shown in     |X|
            this example. Please do not write outside the designated areas.

--------------------------------------------------------------------------------
ANNUAL MEETING PROXY CARD                                   SERIES B PREFERRED
--------------------------------------------------------------------------------

                    THE GABELLI GLOBAL MULTIMEDIA TRUST INC.

THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

The undersigned  hereby  appoints Mario J. Gabelli,  James E. McKee and Bruce N.
Alpert,  and each of them,  attorneys and proxies of the undersigned,  with full
powers of substitution and revocation,  to represent the undersigned and to vote
on behalf of the undersigned all shares of The Gabelli Global  Multimedia  Trust
Inc.  (the  "Fund")  which the  undersigned  is  entitled  to vote at the Annual
Meeting  of  Shareholders  of the  Fund to be held at The Cole  Auditorium,  The
Greenwich  Library,  101 West Putnam  Avenue,  Greenwich,  Connecticut  06830 on
Monday,  May 14,  2007 at  10:00  a.m.,  and at any  adjournments  thereof.  The
undersigned  hereby  acknowledges  receipt of the  Notice of  Meeting  and Proxy
Statement and hereby instructs said attorneys and proxies to vote said shares as
indicated herein.  In their discretion,  the proxies are authorized to vote upon
such other business as may properly come before the Meeting.

A majority  of the  proxies  present  and acting at the  Meeting in person or by
substitute  (or, if only one shall be so present,  then that one) shall have and
may exercise  all of the power and  authority  of said  proxies  hereunder.  The
undersigned hereby revokes any proxy previously given.

This proxy,  if properly  executed,  will be voted in the manner directed by the
undersigned  shareholder.  If no direction is made, this proxy will be voted FOR
the  election of the nominees as Directors  and in the  discretion  of the proxy
holder as to any other matter that may properly come before the Meeting.  Please
refer to the Proxy Statement for a discussion of Proposal No. 1.

--------------------------------------------------------------------------------
PLEASE VOTE, DATE AND SIGN BELOW AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE.
--------------------------------------------------------------------------------

A ELECTION OF DIRECTORS -- THE BOARD OF DIRECTORS RECOMMENDS A VOTE FOR ALL
NOMINEES LISTED.

1. To elect three (3) Directors of the Fund:

                              FOR    WITHHOLD
01 - Mario J. Gabelli, CFA    |_|      |_|

                              FOR    WITHHOLD
02 - Thomas E. Bratter        |_|      |_|

                              FOR    WITHHOLD
03 - Anthony J. Colavita      |_|      |_|

B NON-VOTING ITEMS

CHANGE OF ADDRESS -- Please print new address below.
---------------------------------------------------------

---------------------------------------------------------

COMMENTS -- Please print your comments below.
---------------------------------------------------------

---------------------------------------------------------

C AUTHORIZED SIGNATURES -- THIS SECTION MUST BE COMPLETED FOR YOUR VOTE TO BE
COUNTED. -- DATE AND SIGN BELOW

Please sign this proxy  exactly as your name(s)  appear(s) in the records of the
Fund. If joint owners,  either may sign.  Trustees and other fiduciaries  should
indicate the capacity in which they sign,  and where more than one name appears,
a majority  must sign. If a  corporation,  this  signature  should be that of an
authorized officer who should state his or her title.

Signature 1 -- Please keep signature within the box.
---------------------

---------------------

Signature 2 -- Please keep signature within the box.
---------------------

---------------------

Date (mm/dd/yyyy) -- Please print date below.
---------------------
     /    /
---------------------

C 1234567890           J N T   MR A SAMPLE (THIS AREA IS SET UP TO ACCOMMODATE
                               140 CHARACTERS) MR A SAMPLE AND MR A SAMPLE AND
                               MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND
1 U P X        0 1 2 5 6 1 2   MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND +



[LOGO] GABELLI FUNDS

000004

MR A SAMPLE
DESIGNATION (IF ANY)
ADD 1
ADD 2
ADD 3
ADD 4
ADD 5
ADD 6

000000000.000000 ext
000000000.000000 ext
000000000.000000 ext
000000000.000000 ext
000000000.000000 ext
000000000.000000 ext

C 123456789

            Using a BLACK INK pen, mark your votes with an X as shown in     |X|
            this example. Please do not write outside the designated areas.

--------------------------------------------------------------------------------
ANNUAL MEETING PROXY CARD                                   SERIES C PREFERRED
--------------------------------------------------------------------------------

                    THE GABELLI GLOBAL MULTIMEDIA TRUST INC.

THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS

The undersigned  hereby  appoints Mario J. Gabelli,  James E. McKee and Bruce N.
Alpert,  and each of them,  attorneys and proxies of the undersigned,  with full
powers of substitution and revocation,  to represent the undersigned and to vote
on behalf of the undersigned all shares of The Gabelli Global  Multimedia  Trust
Inc.  (the  "Fund")  which the  undersigned  is  entitled  to vote at the Annual
Meeting  of  Shareholders  of the  Fund to be held at The Cole  Auditorium,  The
Greenwich  Library,  101 West Putnam  Avenue,  Greenwich,  Connecticut  06830 on
Monday,  May 14,  2007 at  10:00  a.m.,  and at any  adjournments  thereof.  The
undersigned  hereby  acknowledges  receipt of the  Notice of  Meeting  and Proxy
Statement and hereby instructs said attorneys and proxies to vote said shares as
indicated herein.  In their discretion,  the proxies are authorized to vote upon
such other business as may properly come before the Meeting.

A majority  of the  proxies  present  and acting at the  Meeting in person or by
substitute  (or, if only one shall be so present,  then that one) shall have and
may exercise  all of the power and  authority  of said  proxies  hereunder.  The
undersigned hereby revokes any proxy previously given.

This proxy,  if properly  executed,  will be voted in the manner directed by the
undersigned  shareholder.  If no direction is made, this proxy will be voted FOR
the  election of the nominees as Directors  and in the  discretion  of the proxy
holder as to any other matter that may properly come before the Meeting.  Please
refer to the Proxy Statement for a discussion of Proposal No. 1.

--------------------------------------------------------------------------------
PLEASE VOTE, DATE AND SIGN BELOW AND RETURN PROMPTLY IN THE ENCLOSED ENVELOPE.
--------------------------------------------------------------------------------

A ELECTION OF DIRECTORS -- THE BOARD OF DIRECTORS RECOMMENDS A VOTE FOR ALL
NOMINEES LISTED.

1. To elect three (3) Directors of the Fund:

                              FOR    WITHHOLD
01 - Mario J. Gabelli, CFA    |_|      |_|

                              FOR    WITHHOLD
02 - Thomas E. Bratter        |_|      |_|

                              FOR    WITHHOLD
03 - Anthony J. Colavita      |_|      |_|

B NON-VOTING ITEMS

CHANGE OF ADDRESS -- Please print new address below.
---------------------------------------------------------

---------------------------------------------------------

COMMENTS -- Please print your comments below.
---------------------------------------------------------

---------------------------------------------------------

C AUTHORIZED SIGNATURES -- THIS SECTION MUST BE COMPLETED FOR YOUR VOTE TO BE
COUNTED. -- DATE AND SIGN BELOW

Please sign this proxy  exactly as your name(s)  appear(s) in the records of the
Fund. If joint owners,  either may sign.  Trustees and other fiduciaries  should
indicate the capacity in which they sign,  and where more than one name appears,
a majority  must sign. If a  corporation,  this  signature  should be that of an
authorized officer who should state his or her title.

Signature 1 -- Please keep signature within the box.
---------------------

---------------------

Signature 2 -- Please keep signature within the box.
---------------------

---------------------

Date (mm/dd/yyyy) -- Please print date below.
---------------------
     /    /
---------------------

C 1234567890           J N T   MR A SAMPLE (THIS AREA IS SET UP TO ACCOMMODATE
                               140 CHARACTERS) MR A SAMPLE AND MR A SAMPLE AND
                               MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND
1 U P X        0 1 2 5 6 1 3   MR A SAMPLE AND MR A SAMPLE AND MR A SAMPLE AND +