Company: GGT-PG
Filing Date: 2025-03-10
Form Type: N-CSR
Source: 0001829126-25-001664
Chunk: 1

Company: GABELLI MULTIMEDIA TRUST INC.
Filing Date: 2025-03-10
Form: N-CSR
Chunk 1
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FA          
 Chief Investment Officer |     | Christopher J. Marangi      
 Co-Chief Investment Officer 
 BA, Williams College        
 MBA, Columbia               
 Business School             |

To Our Stockholders,

For the year ended December 31, 2024, the net asset value (NAV) total return of The Gabelli Multimedia Trust Inc. (the Fund) was 12.2%, compared with a total return of 32.0% for the Morgan Stanley Capital International (MSCI) AC World Communication Services Index. The total return for the Fund’s publicly traded shares was (5.2)%. The Fund’s NAV per share was $3.50, while the price of the publicly traded shares closed at $4.46 on the New York Stock Exchange (NYSE). See page 3 for additional performance information.

Enclosed are the financial statements, including the schedule of investments, as of December 31, 2024.

Investment Objective and Strategy (Unaudited)

The Gabelli Multimedia Trust is a diversified, closed-end management investment company whose primary objective is long term growth of capital, with income as a secondary objective. The Fund seeks opportunities for long term growth within the context of two main investment universes: companies involved in creativity, as it relates to the development of intellectual property rights (copyrights); and companies involved in distribution as it relates to the delivery of these copyrights. Additionally, the Fund will invest in companies participating in emerging technological advances in interactive services and products.

| As                                                                                                                                    
 permitted by regulations adopted by the Securities and Exchange Commission, paper copies of the Fund’s annual and semiannual          
 shareholder reports will no longer be sent by mail, unless you specifically request paper copies of the reports. Instead, the reports 
 will be made available on the Fund’s website (www.gabelli.com), and you will be notified by mail each time a report is posted         
 and provided with a website link to access the report. If you already elected to receive shareholder reports electronically, you      
 will not be affected by this change and you need not take any action. To elect to receive all future reports on paper free of charge, 
 please contact your financial intermediary, or, if you invest directly with the Fund, you may call 800-422-3554 or send an email      
 request to info@gabelli.com.                                                                                                          |

Performance Discussion (Unaudited)

For the twelve months ended December 31, 2024, the Gabelli Multimedia Trust lagged its benchmark, which continues to be dominated by the