Gabelli Global Multimedia Trust Inc. (NYSE: GGT), a closed-end management investment company, is facing pressure from Western Investment LLC after it nominated two directors to the firm’s board in a Schedule 13D filing with the U.S. Securities and Exchange Commission.

To this end, Western Investments submitted Arthur D. Lipson and Gregory R. Dube for consideration at the company’s upcoming 2010 annual meeting of stockholders. Meanwhile, the firm also petitioned for the declassification of the company’s board elections.

Currently, Western Investment owns approximately 711,518 shares, which it acquired at an aggregate purchase price of $4,228,912. The company acquired the shares based on their belief that the stock was significantly undervalued and an attractive investment opportunity.