Christopher J. Marangi
About Christopher J. Marangi
Christopher J. Marangi (year of birth: 1974) is an “interested” Director of The Gabelli Multimedia Trust Inc. (GGT) due to his affiliation with the Fund’s Adviser; he has served on the Board since March 21, 2013 and is nominated to serve through the 2028 annual meeting . He is Managing Director and Co-Chief Investment Officer of the Value team at GAMCO Investors, Inc. and a portfolio manager for Gabelli Funds, LLC and GAMCO Asset Management Inc.; previously he was an investment banking analyst at J.P. Morgan & Co. and later joined private equity firm Wellspring Capital Management . Marangi holds a B.A. in Political Economy (magna cum laude, Phi Beta Kappa) from Williams College and an MBA with honors from Columbia Business School .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| J.P. Morgan & Co. | Investment Banking Analyst | Not disclosed | Early-career analytical training |
| Wellspring Capital Management | Private Equity | Not disclosed | Buyout investment experience |
| GAMCO Investors, Inc. (GAMI) | Research Analyst; later Managing Director & Co-CIO (Value team) | Joined 2003; current Co-CIO | Coverage of cable, satellite, entertainment; leadership of Value team |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| GAMCO Investors, Inc. (GAMI) | Managing Director & Co-Chief Investment Officer (Value) | Current | Executive leadership role at Adviser affiliate |
| Gabelli Funds, LLC | Portfolio Manager | Current | Manages open- and closed-end funds |
| GAMCO Asset Management Inc. | Portfolio Manager | Current | Manages separate accounts |
Board Governance
- Independence: Classified as an “interested person” under the 1940 Act due to Adviser affiliation; not an Independent Director .
- Board service: Director since March 21, 2013; nominated to serve until the 2028 Annual Meeting .
- Committee assignments: The Audit Committee (Birch—Chair, Roeder, Zizza), Nominating Committee (Fahrenkopf—Chair, Zizza), and ad hoc committees are chaired/filled by Independent Directors; Marangi is not listed as a member or chair of any Board committee in the proxy .
- Lead Independent Director: James P. Conn .
- Attendance: In FY2024, the Board met four times; each Director then serving attended at least 75% of Board and applicable committee meetings .
- Annual meeting attendance: No Director or nominee attended the May 13, 2024 annual meeting; the Fund does not expect Directors to attend the meeting .
Fixed Compensation
| Item | Amount | Notes |
|---|---|---|
| Aggregate compensation from GGT (FY2024) | $0 | Interested Directors (Gabelli and Marangi) received no compensation from the Fund |
| Aggregate compensation from GGT and Fund Complex (FY2024) | $0 | Reported as $0 for Marangi |
Independent Director fee schedule (context): Annual retainer $6,000, $500 per Board meeting, $1,000 per committee meeting; Audit Chair $3,000; Nominating Chair and Lead Independent Director $2,000; aggregate remuneration to Independent Directors was $93,791 in FY2024 .
Performance Compensation
- No director performance-based compensation, stock awards (RSUs/PSUs), or options are disclosed in the proxy’s director compensation presentation for FY2024 .
Other Directorships & Interlocks
| Company | Role | Public Company | Committees |
|---|---|---|---|
| — | — | — | Marangi’s “Other Directorships” column shows “—” (none disclosed beyond fund complex roles) |
Expertise & Qualifications
- Investment leadership: Managing Director & Co-CIO of Value at GAMI; portfolio management across funds and separate accounts .
- Sector expertise: Coverage experience in cable, satellite, entertainment; broader value investing mandate .
- Education: Williams College (Political Economy; magna cum laude, Phi Beta Kappa) and Columbia Business School (MBA with honors) .
Equity Ownership
| Security | Amount Owned | % of Outstanding | Dollar Range in GGT | Aggregate Dollar Range in Fund Family |
|---|---|---|---|---|
| Common Stock | 1,107 shares | <1% (*) | D ($50,001–$100,000) | E (> $100,000) |
| 5.125% Series E Preferred | 2,000 shares | <1% (*) | — | — |
| 5.125% Series G Preferred | 2,000 shares | <1% (*) | — | — |
(*) Proxy denotes “less than 1%” with an asterisk; all shares are as of December 31, 2024 .
Governance Assessment
-
Strengths
- Professional investment expertise and fund-complex leadership may enhance oversight of Adviser and portfolio risk management .
- Consistent attendance threshold met across FY2024 meetings (≥75%) .
-
Concerns / RED FLAGS
- Interested Director status (affiliation with Adviser) reduces board independence; committee leadership and membership concentrated among Independent Directors, with Marangi not listed on committees .
- Lack of director attendance at the 2024 annual meeting may be perceived as limited shareholder engagement .
- Adviser/affiliate concentration: GAMCO/Gabelli affiliates collectively beneficially own 7.9% of common stock, indicating potential influence; while not specific to Marangi, it underscores ecosystem control risks in governance context .
-
Alignment
- No cash compensation from the Fund; personal shareholdings in common and preferred create some alignment, though ownership is below 1% of outstanding shares .
-
Disclosures not found
- No director equity grants, options, pledging/hedging policies, or say-on-pay items disclosed in the proxy for Marangi .
- No related-party transactions disclosed for Marangi specifically; proxy notes independence checks and certain affiliate interests for Independent Directors, not for Marangi (who is “interested”) .