Gabelli Funds Announces Progress Toward Availability Of Gabelli Media Mogul NextShares

Gabelli Funds, LLC, a subsidiary of GAMCO Investors, Inc. (NYSE:GBL), announced today that the U.S. Securities and Exchange Commission ("SEC") has published a notice to the public soliciting comments on the request by Nasdaq Stock Market LLC to list and trade the shares of Gabelli NextShares Trust, (the "Trust"). If no comments are made on the request, Gabelli Funds, LLC expects the SEC will grant final approval of the request.

Gabelli Media Mogul NextShares (the "Fund") is one of the Funds within the Trust. The primary objective of the Fund is capital appreciation. Under normal market conditions, the Fund will invest at least 80% of its net assets in companies that were spun-off from Liberty Media Corporation ("Liberty Media") as constituted in 2001, including companies formed through subsequent mergers of those spin-offs and companies in which Liberty Media and its successors have invested.

Liberty Media separated from AT&T Corp. in August 2001, to form a company that is an amalgamation of media and telecommunications related assets. The company's Chairman and largest shareholder since inception has been Dr. John C. Malone. Since 2001, Liberty Media has engaged in a series of spin-offs, split-offs, mergers and tracking stock issuances. Tracking stocks are generally common stocks issued by a parent company that track performance of a particular division of a company without having claim on the assets of the division or the parent company. Media Mogul NextShares current investable universe includes U.S. and non-U.S. listed companies in the telecommunications, media, publishing, and entertainment industries. The Fund is the first member of the Gabelli NextShares Trust offered under an agreement with NextShares Solutions LLC (formally Navigate Fund Solutions LLC), a subsidiary of Eaton Vance Corp. (NYSE:EV).

NextShares, an innovative way to invest in actively managed strategies, offer the potential for benchmark-beating returns by applying their manager's proprietary investment research. As exchange-traded products, NextShares may offer cost and tax efficiencies that can enhance shareholder returns. NextShares are expected to be offered by a range of well-known asset managers and across fund asset classes. The first NextShares funds began trading on the Nasdaq Stock Market LLC earlier this year.

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