<DOCUMENT>
<TYPE>EX-1
<SEQUENCE>2
<FILENAME>gtnii.txt
<TEXT>
                                      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

          GAMCO INVESTORS, INC.
                       5/27/04          163,200              *DI
                       5/27/04            4,000            14.2130
                       5/24/04            1,000            14.1000
                       5/24/04              500-           14.0800
                       5/21/04            1,000-           13.9630
                       5/19/04            1,000            14.2500
                       5/18/04              300-           13.8700
                       5/14/04           10,000            14.0078
                       5/13/04            1,000            13.8800
                       5/13/04            1,000            13.9800
                       5/12/04           20,000            13.7823
                       5/12/04              500            13.8000
                       5/12/04           18,000            14.0387
                       5/10/04            2,000            14.0780
                       5/05/04              500-           15.2300
                       5/05/04            2,300            15.2230
                       5/04/04            1,000-           15.2500
                       5/04/04              500            15.3360
                       5/03/04            3,000-           14.9850
                       4/28/04              500-           15.6700
                       4/28/04           10,000            15.4774
                       4/26/04            8,000-           16.0133
                       4/22/04            4,500              *DI
                       4/21/04              500            15.5000
                       4/20/04            3,000-           15.3253
                       4/12/04            2,000            15.9900
                       4/07/04            5,700            15.5682
                       4/05/04              700            15.5300
                       4/02/04              200-           64.2500
                       4/02/04              200            64.0500
                       4/01/04           20,000            14.9202
                       4/01/04           10,000            14.9690
                       3/29/04           10,000            14.2990
           GABELLI FUNDS, LLC.
               GABELLI CAPITAL ASSET FUND
                       4/02/04           10,000-           15.4400

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

(2) PRICE EXCLUDES COMMISSION.

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

</TEXT>
</DOCUMENT>
