SCHEDULE II

                                      INFORMATION WITH RESPECT TO
                           TRANSACTIONS EFFECTED DURING THE PAST SIXTY DAYS OR
                           SINCE THE MOST RECENT FILING ON SCHEDULE 13D (1)

                                             SHARES PURCHASED        AVERAGE
                                  DATE            SOLD(-)             PRICE(2)

           COMMON STOCK-GRAY TV INC COMMON

                  MJG ASSOCIATES, INC.
                                12/02/02            3,200-           10.2381
                                11/22/02            2,400-           10.1808
                    GABELLI INTERNATIONAL LTD
                                11/25/02            1,000-           10.1600
                    GAMCO INVESTORS, INC.
                                12/11/02            2,300             9.9900
                                12/09/02            3,000             9.9500
                                12/06/02            2,000             9.9800
                                12/05/02            1,800-            9.7956
                                12/05/02            2,000-            9.8080
                                11/27/02            1,000            10.1500
                                11/27/02            2,000-           10.1500
                                11/26/02            5,000-            9.9800
                                11/25/02            1,000             9.9500
                                11/25/02           25,000-             *DO
                                11/25/02            1,000             9.8800
                                11/25/02            2,000             9.8650
                                11/22/02            1,000-           10.1000
                                11/21/02           26,700-            9.4316
                                11/20/02            5,000-            9.3510
                                11/20/02            2,000             9.3400
                                11/20/02           24,000-            9.3192
                                11/20/02            1,000             9.2689
                                11/20/02            1,000-            9.3000
                                11/19/02            2,000             9.1600
                                11/19/02              750             9.1700
                                11/18/02            5,000-            9.0580
                                11/18/02              500-            9.1100
                                11/18/02            2,000             9.1000
                                11/18/02            3,000             9.0500
                                11/15/02            1,000             9.0000
                                11/14/02            1,000             8.7000
                                11/14/02            2,000             8.7375
                                11/12/02            1,000             8.5500
                                11/11/02            1,000             8.2800
                                11/11/02            3,000             8.3067
                                11/07/02            2,500             8.4032
                                11/07/02            2,000             8.3900
                                11/04/02           10,000             8.6500
                                11/04/02           15,000             8.5667
                                11/01/02            4,000             8.7650
                                11/01/02            1,000             8.7900
                                10/31/02            8,000             8.8075
                                10/30/02           27,000             8.6144
                                10/30/02            2,000-            8.3525



                    GAMCO INVESTORS, INC.
                                10/30/02            1,000             8.3700
                                10/30/02            2,000             8.4200
                                10/30/02            3,000-            8.4000
                                10/29/02              700             8.3500
                                10/29/02              710-            8.3000
                                10/28/02            2,000-            9.0750
                                10/25/02              500             8.6100
                                10/18/02            1,700             8.2800
                                10/18/02           25,000             8.3000
                                10/18/02            5,000             8.3140
                                10/18/02            7,000             8.2500
                                10/16/02            1,000             8.2500
                                10/16/02            3,500-            8.2500
                                10/16/02            1,000             8.2500
                     GABELLI FUNDS, LLC.
                         GABELLI GLOBAL GROWTH
                                11/05/02            4,307-            8.3964
                                10/28/02            8,552             8.7750
                         GABELLI CAPITAL ASSET FUND
                                11/25/02            5,000-           10.1400
                                11/18/02            2,000-            9.1360
                                11/15/02            5,000-            9.1320


          (1) UNLESS OTHERWISE INDICATED, ALL TRANSACTIONS WERE EFFECTED
              ON THE NYSE.

          (2) PRICE EXCLUDES COMMISSION.

          (*) RESULTS IN CHANGE OF DISPOSITIVE POWER AND BENEFICIAL OWNERSHIP.