Edgar Filing: GRAY TELEVISION INC

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

(Amendment No. 7)

Under the Securities Exchange Act of 1934

GRAY TELEVISION, INC.
---------------------
(NAME OF ISSUER)

Common Stock, no par value
Class A Common Stock, no par value
----------------------------------
(TITLE OF CLASS OF SECURITIES)

289190109
---------
(CUSIP NUMBER)

Robert S. Prather, Jr.
Bull Run Corporation
4370 Peachtree Road, N.E.
Atlanta, Georgia 30319
(404) 266-8333
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(NAME, ADDRESS AND TELEPHONE NUMBER OF PERSON AUTHORIZED TO
RECEIVE NOTICES AND COMMUNICATIONS)

August 19 through 25, 2003
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(DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT)

If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Section 240.13-d-1(e), 240.13d-1(f) or 240.13d-1(g), check
the following box: /_/

CUSIP No. 389190109

1. NAME OF REPORTING PERSONS Bull Run Corporation

S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
(Intentionally Omitted)
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) /_/
(b) /_/

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3. SEC USE ONLY

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4. SOURCE OF FUNDS N/A

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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(D) OR 2(E) /_ /

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6. CITIZENSHIP OR PLACE OF ORGANIZATION

Georgia
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7. SOLE VOTING POWER
No shares of Common Stock
No shares of
Class A Common Stock
NUMBER OF SHARES ------------------------------------------------------
8. SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY EACH
------------------------------------------------------
REPORTING PERSON 9. SOLE DISPOSITIVE POWER
No shares of Common Stock
No shares of
Class A Common Stock
------------------------------------------------------
10. SHARED DISPOSITIVE POWER

-0-

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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
No shares of Common Stock
No shares of
Class A Common Stock
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES /_/

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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.00% of Common Stock
0.00% of Class A Common Stock
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14. TYPE OF REPORTING PERSON CO

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CUSIP No. 389190109

1. NAME OF REPORTING PERSONS Bankers Fidelity Insurance Company

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3. SEC USE ONLY

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4. SOURCE OF FUNDS WC

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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(D) OR 2(E) /_ /

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6. CITIZENSHIP OR PLACE OF ORGANIZATION

Georgia
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7. SOLE VOTING POWER

221,706 shares of
Class A Common Stock
NUMBER OF SHARES ------------------------------------------------------
8. SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY EACH
------------------------------------------------------
REPORTING PERSON 9. SOLE DISPOSITIVE POWER

221,706 shares of
Class A Common Stock
------------------------------------------------------
10. SHARED DISPOSITIVE POWER

-0-

-------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
221,706 shares of
Class A Common Stock
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES /_/

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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
3.80% of Class A Common Stock
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14. TYPE OF REPORTING PERSON IC, CO

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CUSIP No. 389190109

1. NAME OF REPORTING PERSONS Georgia Casualty & Surety Company

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3. SEC USE ONLY

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4. SOURCE OF FUNDS WC

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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(D) OR 2(E) /_ /

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6. CITIZENSHIP OR PLACE OF ORGANIZATION

Georgia
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7. SOLE VOTING POWER
6,000 of Common Stock
134,354 shares of
Class A Common Stock
NUMBER OF SHARES ------------------------------------------------------
8. SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY EACH
------------------------------------------------------
REPORTING PERSON 9. SOLE DISPOSITIVE POWER
6,000 shares of Common Stock
132,354 shares of
Class A Common Stock
------------------------------------------------------
10. SHARED DISPOSITIVE POWER

-0-

-------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
6,000 shares of Common Stock
132,354 shares of
Class A Common Stock
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES /_/

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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.01% of Common Stock
2.27% of Class A Common Stock
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14. TYPE OF REPORTING PERSON IC, CO

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CUSIP No. 389190109

1. NAME OF REPORTING PERSONS J. Mack Robinson

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3. SEC USE ONLY

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4. SOURCE OF FUNDS PF

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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(D) OR 2(E) /_ /

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6. CITIZENSHIP OR PLACE OF ORGANIZATION

United States
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7. SOLE VOTING POWER
202,950 shares of Common Stock
413,775 shares of
Class A Common Stock
NUMBER OF SHARES ------------------------------------------------------
8. SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY EACH
------------------------------------------------------
REPORTING PERSON 9. SOLE DISPOSITIVE POWER
202,950 shares of Common Stock
413,775 shares of
Class A Common Stock
------------------------------------------------------
10. SHARED DISPOSITIVE POWER

-0-

-------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
202,950 shares of Common Stock
413,775 shares of
Class A Common Stock
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES /_/

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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.46% of Common Stock
7.10% of Class A Common Stock
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14. TYPE OF REPORTING PERSON IN

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CUSIP No. 389190109

1. NAME OF REPORTING PERSONS Harriett J. Robinson

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3. SEC USE ONLY

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4. SOURCE OF FUNDS OO

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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(D) OR 2(E) /_ /

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6. CITIZENSHIP OR PLACE OF ORGANIZATION

United States
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7. SOLE VOTING POWER
169,500 shares of Common Stock
578,940 shares of
Class A Common Stock
NUMBER OF SHARES ------------------------------------------------------
8. SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY EACH
------------------------------------------------------
REPORTING PERSON 9. SOLE DISPOSITIVE POWER
169,500 shares of Common Stock
578,940 shares of
Class A Common Stock
------------------------------------------------------
10. SHARED DISPOSITIVE POWER

-0-

-------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
169,500 shares of Common Stock
578,940 shares of
Class A Common Stock
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES /_/

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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.39% of Common Stock
9.93% of Class A Common Stock
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14. TYPE OF REPORTING PERSON IN

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CUSIP No. 389190109

1. NAME OF REPORTING PERSONS Harriett J. Robinson
Trustee U/A 8/25/84
FBO Jill E. Robinson

S.S. or I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS
(Intentionally Omitted)
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2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) /_/
(b) /_/

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3. SEC USE ONLY

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4. SOURCE OF FUNDS OO

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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(D) OR 2(E) /_ /

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6. CITIZENSHIP OR PLACE OF ORGANIZATION

United States
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7. SOLE VOTING POWER
30,750 shares of Common Stock
555,190 shares of
Class A Common Stock
NUMBER OF SHARES ------------------------------------------------------
8. SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY EACH
------------------------------------------------------
REPORTING PERSON 9. SOLE DISPOSITIVE POWER
30,750 shares of Common Stock
555,190 shares of
Class A Common Stock
------------------------------------------------------
10. SHARED DISPOSITIVE POWER

-0-

-------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
30,750 shares of Common Stock
555,190 shares of
Class A Common Stock
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES /_/

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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.07% of Common Stock
9.52% of Class A Common Stock
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14. TYPE OF REPORTING PERSON OO

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CUSIP No. 389190109

1. NAME OF REPORTING PERSONS Harriett J. Robinson
Trustee U/A 8/25/84
FBO Robin M.Robinson

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3. SEC USE ONLY

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4. SOURCE OF FUNDS OO

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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(D) OR 2(E) /_ /

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6. CITIZENSHIP OR PLACE OF ORGANIZATION

United States
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7. SOLE VOTING POWER
13,000 shares of Common Stock
482,190 shares of
Class A Common Stock
NUMBER OF SHARES ------------------------------------------------------
8. SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY EACH
------------------------------------------------------
REPORTING PERSON 9. SOLE DISPOSITIVE POWER
13,000 shares of Common Stock
482,190 shares of
Class A Common Stock
------------------------------------------------------
10. SHARED DISPOSITIVE POWER

-0-

-------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
13,000 shares of Common Stock
482,190 shares of
Class A Common Stock
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES /_/

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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.03% of Common Stock
8.27% of Class A Common Stock
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14. TYPE OF REPORTING PERSON OO

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CUSIP No. 389190109

1. NAME OF REPORTING PERSONS Jill E. Robinson

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3. SEC USE ONLY

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4. SOURCE OF FUNDS PF

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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(D) OR 2(E) /_ /

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6. CITIZENSHIP OR PLACE OF ORGANIZATION

United States
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7. SOLE VOTING POWER

500 shares of
Class A Common Stock
NUMBER OF SHARES ------------------------------------------------------
8. SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY EACH
------------------------------------------------------
REPORTING PERSON 9. SOLE DISPOSITIVE POWER

500 shares of
Class A Common Stock
------------------------------------------------------
10. SHARED DISPOSITIVE POWER

-0-

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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

500 shares of
Class A Common Stock
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES /_/

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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.01% of Class A Common Stock

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14. TYPE OF REPORTING PERSON IN

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CUSIP No. 389190109

1. NAME OF REPORTING PERSONS Hilton H. Howell, Jr.

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3. SEC USE ONLY

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4. SOURCE OF FUNDS PF

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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(D) OR 2(E) /_ /

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6. CITIZENSHIP OR PLACE OF ORGANIZATION

United States
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7. SOLE VOTING POWER
268,497 shares of Common Stock
34,500 shares of
Class A Common Stock
NUMBER OF SHARES ------------------------------------------------------
8. SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY EACH
------------------------------------------------------
REPORTING PERSON 9. SOLE DISPOSITIVE POWER
268,497 shares of Common Stock
34,500 shares of
Class A Common Stock
------------------------------------------------------
10. SHARED DISPOSITIVE POWER

-0-

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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
268,497 shares of Common Stock
34,500 shares of
Class A Common Stock
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES /_/

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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.61% of Common Stock
0.59% of Class A Common Stock
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14. TYPE OF REPORTING PERSON IN

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CUSIP No. 389190109

1. NAME OF REPORTING PERSONS Delta Life Insurance Company

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3. SEC USE ONLY

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4. SOURCE OF FUNDS WC

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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(D) OR 2(E) /_ /

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6. CITIZENSHIP OR PLACE OF ORGANIZATION

Georgia
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7. SOLE VOTING POWER
10,000 shares of Common Stock
135,795 shares of
Class A Common Stock
NUMBER OF SHARES ------------------------------------------------------
8. SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY EACH
------------------------------------------------------
REPORTING PERSON 9. SOLE DISPOSITIVE POWER
10,000 shares of Common Stock
135,795 shares of
Class A Common Stock
------------------------------------------------------
10. SHARED DISPOSITIVE POWER

-0-

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11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10,000 shares of Common Stock
135,795 shares of
Class A Common Stock
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES /_/

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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.02% of Common Stock
2.23% of Class A Common Stock
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14. TYPE OF REPORTING PERSON IC, CO

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CUSIP No. 389190109

1. NAME OF REPORTING PERSONS Robin R. Howell

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3. SEC USE ONLY

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4. SOURCE OF FUNDS [PF]

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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(D) OR 2(E) /_ /

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6. CITIZENSHIP OR PLACE OF ORGANIZATION

United States
-------------------------------------------------------------------------------
7. SOLE VOTING POWER

58,575 shares of
Class A Common Stock
NUMBER OF SHARES ------------------------------------------------------
8. SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY EACH
------------------------------------------------------
REPORTING PERSON 9. SOLE DISPOSITIVE POWER

58,575 shares of
Class A Common Stock
------------------------------------------------------
10. SHARED DISPOSITIVE POWER

-0-

-------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

58,575 shares of
Class A Common Stock
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12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES /_/

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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

1.00% of Class A Common Stock

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14. TYPE OF REPORTING PERSON IN

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CUSIP No. 389190109

1. NAME OF REPORTING PERSONS Delta Fire & Casualty Insurance Company

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3. SEC USE ONLY

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4. SOURCE OF FUNDS WC

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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(D) OR 2(E) /_ /

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6. CITIZENSHIP OR PLACE OF ORGANIZATION

Georgia
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7. SOLE VOTING POWER
35,000 shares of Common Stock
33,750 shares of
Class A Common Stock
NUMBER OF SHARES ------------------------------------------------------
8. SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY EACH
------------------------------------------------------
REPORTING PERSON 9. SOLE DISPOSITIVE POWER
35,000 shares of Common Stock
33,750 shares of
Class A Common Stock
------------------------------------------------------
10. SHARED DISPOSITIVE POWER

-0-

-------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
35,000 shares of Common Stock
33,750 shares of
Class A Common Stock
-------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES /_/

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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.08% of Common Stock
0.58% of Class A Common Stock
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14. TYPE OF REPORTING PERSON IC, CO

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CUSIP No. 389190109

1. NAME OF REPORTING PERSONS Robert S. Prather, Jr.

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3. SEC USE ONLY

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4. SOURCE OF FUNDS PF

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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(D) OR 2(E) /_ /

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6. CITIZENSHIP OR PLACE OF ORGANIZATION

United States
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7. SOLE VOTING POWER
291,200 shares of Common Stock
230,183 shares of
Class A Common Stock
NUMBER OF SHARES ------------------------------------------------------
8. SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY EACH
------------------------------------------------------
REPORTING PERSON 9. SOLE DISPOSITIVE POWER
291,200 shares of Common Stock
230,183 shares of
Class A Common Stock
------------------------------------------------------
10. SHARED DISPOSITIVE POWER

-0-

-------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
291,200 shares of Common Stock
230,183 shares of
Class A Common Stock
-------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES /_/

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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.67% of Common Stock
3.95% of Class A Common Stock
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14. TYPE OF REPORTING PERSON IN

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CUSIP No. 389190109

1. NAME OF REPORTING PERSONS American Southern Insurance Company

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3. SEC USE ONLY

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4. SOURCE OF FUNDS WC

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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(D) OR 2(E) /_ /

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6. CITIZENSHIP OR PLACE OF ORGANIZATION

Georgia
-------------------------------------------------------------------------------
7. SOLE VOTING POWER

50,000 shares of Common Stock

NUMBER OF SHARES ------------------------------------------------------
8. SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY EACH
------------------------------------------------------
REPORTING PERSON 9. SOLE DISPOSITIVE POWER

50,000 shares of Common Stock

------------------------------------------------------
10. SHARED DISPOSITIVE POWER

-0-

-------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

50,000 shares of Common Stock

-------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES /_/

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13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

0.11% of Common Stock

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14. TYPE OF REPORTING PERSON IC, CO

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CUSIP No. 389190109

1. NAME OF REPORTING PERSONS Association Casualty Insurance Company

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3. SEC USE ONLY

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4. SOURCE OF FUNDS WC

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5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(D) OR 2(E) /_ /

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6. CITIZENSHIP OR PLACE OF ORGANIZATION

Georgia
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7. SOLE VOTING POWER
72,000 shares of Common Stock
22,000 shares of
Class A Common Stock
NUMBER OF SHARES ------------------------------------------------------
8. SHARED VOTING POWER
BENEFICIALLY
-0-
OWNED BY EACH
------------------------------------------------------
REPORTING PERSON 9. SOLE DISPOSITIVE POWER
72,000 shares of Common Stock
22,000 shares of
Class A Common Stock
------------------------------------------------------
10. SHARED DISPOSITIVE POWER

-0-

-------------------------------------------------------------------------------
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
72,000 shares of Common Stock
22,000 shares of
Class A Common Stock
-------------------------------------------------------------------------------
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN
SHARES /_/

-------------------------------------------------------------------------------
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
0.38% of Common Stock
0.16% of Class A Common Stock
-------------------------------------------------------------------------------
14. TYPE OF REPORTING PERSON IC, CO

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Items 1, 2, 3, and 5 of the Schedule 13D, dated May 12, 1993, relating
to the Class A Common Stock, no par value, of Gray Communications Systems, Inc.,
as amended by Amendment No. 1 thereto, dated September 30, 1994, Amendment No. 2
thereto, dated October 14, 1994, Amendment No. 3 thereto, dated November 25,
1994, Amendment No. 4 thereto, dated December 5, 1994, Amendment No. 5 thereto,
dated January 31, 1996 and Amendment No. 6 thereto, dated September 30, 1998
(collectively, the "Schedule 13D"), are hereby amended by adding thereto the
information set forth below. The terms defined in the Schedule 13D shall have
their defined meanings therein, unless otherwise defined herein.

The filing of the Schedule 13D (including all amendments thereto) does
not constitute an admission by any of the persons making this filing that such
persons are a "group" for purposes of Section 13(d)(3) of the Securities
Exchange Act of 1934 (the "Act"). The Reporting Persons deny that they should be
deemed to be such a "group" and such persons are making this filing only because
they may be deemed to constitute a "group" for purposes of Section 13(d)(3) of
the Act.

ITEM 1. SECURITY AND ISSURER.

The classes of equity securities to which this statement relates are
the Class A Common Stock, no par value (the "Class A Common Stock"), and the
Common Stock, no par value (the "Common Stock"), of Gray Television, Inc.
(formerly known as Gray Communications Systems, Inc.), a Georgia corporation
(the "Issuer"). Prior to September 16, 2002, the Common Stock was named class B
common stock. The principal executive offices of the Issuer are located at 4370
Peachtree Road, NE, Atlanta, Georgia 30319.

ITEM 2. IDENTITY AND BACKGROUND

In 2002, J. Mack Robinson was elected Chairman and Chief Executive
Officer of the Issuer. Prior to that, he was the Issuer's President and Chief
Executive Officer since 1996.

He has served as one of the Issuers directors since 1993. In 2002, Robert S.
Prather, Jr. was elected President and Chief Operating Officer of the Issuer.
Prior to that, he served as the Issuer's Executive Vice President - Acquisitions
since 1996. He has served as one of the Issuer's directors since 1993. In 1997,
Harriett J. Robinson was elected a director of the Issuer. Bull Run Corporation
has disposed of all of the shares of Common Stock and Series A Common Stock
formerly owned by it and is no longer a Reporting Person.

ITEM 3. SOURCE AND AMOUNT OF FUNDS.

Harriett J. Robinson, Harriett J. Robinson, Trustee U/A 8/25/84 FBO
Jill E. Robinson and Harriett J. Robinson, Trustee U/A 8/25/84 FBO Robin M.
Robinson used the proceeds of margin loans to purchase from Bull Run Corporation
334,000 shares of Common Stock, 333,000 shares of Common Stock and 333,000
shares of Common Stock, respectively.

J. Mack Robinson, Harriett J. Robinson, Trustee U/A 8/25/84 FBO Jill E.
Robinson and Harriett J. Robinson, Trustee U/A 8/25/84 FBO Robin M. Robinson
used personal funds and working capital to purchase on The New York Stock
Exchange 1,800 shares of Series A Common Stock, 10,000 shares of Series A Common
Stock and 10,000 shares of Series A Common Stock, respectively, owned by them.

ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.

Set forth below is information concerning the beneficial ownership of
shares of the Common Stock owned by each of the Reporting Persons. Except as
otherwise described below, each of the Reporting Persons has the sole power to
vote or direct the vote and sole power to dispose of the Common Stock
beneficially owned by him. Each of the Reporting Persons disclaims beneficial
ownership of any shares of Common Stock owned by any other Reporting Person.

Percentage of
Number of Outstanding
Shares of Shares of
Name Common Stock Common Stock
---- ------------ -------------

Bull Run Corporation 0(1) 0.00%
Georgia Casualty & Surety Company 6,000 0.01
J. Mack Robinson 202,950(2) 0.46%
Harriett J. Robinson 169,500(3) 0.39%
Harriett J. Robinson,
Trustee U/A 8/25/84
FBO Jill E. Robinson 30,750(1) 0.07%
Harriett J. Robinson,
Trustee U/A 8/25/84
FBO Robin M. Robinson 13,000(1) 0.03%
Hilton H. Howell, Jr. 268,497(4) 0.61
Delta Life Insurance Company 10,000 0.02%
Delta Fire & Casualty Insurance Company 35,000 0.08%
Robert S. Prather, Jr. 291,200(5) 0.67%
American Southern Insurance Company 50,000 0.11%
Association Casualty Insurance Company 72,000 0.16%

(1) On August 19, 2003, the Issuer repurchased from Bull Run Corporation
1,017,647 shares of Class A Common Stock and 11,750 shares of Common Stock
for $16.95 per share. In a related transaction Bull Run Corporation sold,
for $16.95 per share, 334,000 shares of Series A Common Stock to Harriett J.
Robinson, 333,000 shares of Series A Common Stock to Harriett J. Robinson
Trustee U/A 8/25/84 FBO Jill E. Robinson and 333,000 shares of Series A
Common Stock to Harriett J. Robinson Trustee U/A 8/25/84 FBO Robin M.
Robinson.

(2) Includes options to purchase 90,000 shares of Common Stock which are
exercisable within 60 days.

(3) Includes options to purchase 90,000 shares of Common Stock which are
exercisable within 60 days.

(4) Includes options to purchase 80,000 shares of Common Stock which are
exercisable within 60 days. Excludes options to purchase 25,000 shares of
Common Stock which are

not exercisable within 60 days. Includes 200 shares of Common Stock that are
held by Mr. Howell's minor children, as to which shares Mr. Howell disclaims
beneficial ownership.

(5) Includes 100,000 restricted shares of Common Stock and options to purchase
191,000 shares of Common Stock which are exercisable within 60 days.
Excludes options to purchase 177,000 shares of Common Stock which are not
exercisable within 60 days. Includes 200 shares of Common Stock that are
held by Mr. Prather's spouse, as to which shares Mr. Prather disclaims
beneficial ownership.

Other than as disclosed in the footnotes to the table above, none of
the Reporting Persons had any transactions in the Series A Common Stock during
the 60-day period preceding the date of this Amendment No. 7.

Set forth below is information concerning the beneficial ownership of
shares of the Series A Common Stock owned by each of the Reporting Persons.
Except as otherwise described below, each of the Reporting Persons has the sole
power to vote or direct the vote and sole power to dispose of the Series A
Common Stock beneficially owned by him. Each of the Reporting Persons disclaims
beneficial ownership of any shares of Common Stock owned by any other Reporting
Person.

Number of Percentage of
Shares of Outstanding
Class A Shares of Class A
Name Common Stock Common Stock
---- ------------ -----------------

Bull Run Corporation 0(1) 0.00%
Bankers Fidelity Life Insurance Company 221,706 3.80%
Georgia Casualty & Surety Company 132,354 2.27%
J. Mack Robinson 413,775(2) 7.10%
Harriett J. Robinson 578,940(3) 9.93%
Harriett J. Robinson,
Trustee U/A 8/25/84
FBO JIll E. Robinson 555,190(1)(4) 9.52%

Harriett J. Robinson,
Trustee U/A 8/25/84
FBO Robin M. Robinson 482,190(1)(5) 8.27%
Jill E. Robinson 500 0.01
Hilton H. Howell Jr. 34,500(6) 0.59%
Robin R. Howell 58,575 1.00%
Delta Life Insurance Company 135,795 2.33%
Delta Fire & Casualty Insurance Company 33,750 0.58%
Robert S. Prather, Jr. 230,183(7) 3.95%
Association Casualty Insurance Company 22,000 0.38%

----------

(1) On August 19, 2003, the Issuer repurchased from Bull Run Corporation
1,017,647 shares of Class A Common Stock and 11,750 shares of Common Stock
for $16.95 per share. In a related transaction Bull Run Corporation sold,
for $16.95 per share, 334,000 shares of Series A Common Stock to Harriett
J. Robinson, 333,000 shares of Series A Common Stock to Harriett J.
Robinson Trustee U/A 8/25/84 FBO Jill E. Robinson and 333,000 shares of
Series A Common Stock to Harriett J. Robinson Trustee U/A 8/25/84 FBO
Robin M. Robinson.

(2) On August 25, 2003, Mr. Robinson purchased on The New York Stock Exchange,
1,800 shares of Common Stock for $12.86 per share. Includes options to
purchase 10,000 shares of Series A Common Stock which are exercisable
within 60 days. Excludes options to purchase 110,000 shares of Series A
Common Stock which are not exercisable within 60 days.

(3) Includes options to purchase 10,000 shares of Series A Common Stock which
are exercisable within 60 days. Excludes options to purchase 110,000
shares of Series A Common Stock which are not exercisable within 60 days.

(4) On August 20, 2003, the Trust purchased on The New York Stock Exchange,
5,000 shares of Series A Common Stock for $14.00 per share and on August
21, 2003, the Trust purchased on The New York Stock Exchange, 5,000 shares
of Series A Common Stock for $14.00 per share.

(5) On August 20, 2003, the Trust purchased on The New York Stock Exchange,
5,000 shares of Series A Common Stock for $14.00 per share.

(6) Includes options to purchase 9,337 shares of Series A Common Stock which
are exercisable within 60 days. Includes 225 shares of Series A Common
Stock that are held by Mr. Prather's spouse, as to which shares Mr.
Prather disclaims beneficial ownership.

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete, and
correct.

BULL RUN CORPORATION

November 3, 2003 By /s/ Robert S. Prather, Jr.
--------------------------
Robert S. Prather, Jr.
President and CEO

BANKERS FIDELITY
LIFE INSURANCE COMPANY

November 3, 2003 By /s/ Eugene Choate
--------------------------
Eugene Choate
President

GEORGIA CASUALTY
& SURETY COMPANY

November 3, 2003 By /s/ Bob Kitchen
--------------------------
Bob Kitchen
President

November 3, 2003 By /s/ J. Mack Robinson
--------------------------
J. Mack Robinson

November 3, 2003 By /s/ Harriett J. Robinson
--------------------------
Harriett J. Robinson

TRUST U/A 8/25/84 FBO
JILL E. ROBINSON

November 3, 2003 By /s/ Harriett J. Robinson
--------------------------
Harriett J. Robinson,
as Trustee

TRUST U/A 8/25/84 FBO
ROBIN M. ROBINSON

November 3, 2003 By /s/ Harriett J. Robinson
------------------------
Harriett J. Robinson,
as Trustee

November 3, 2003 /s/ Jill E. Robinson
------------------------------
Jill E. Robinson

November 3, 2003 /S/ Hilton H. Howell, Jr.
------------------------------
Hilton H. Howell, Jr.

November 3, 2003 /S/ Robin R. Howell
------------------------------
Robin R. Howell

DELTA LIFE INSURANCE COMPANY

November 3, 2003 By /s/ J. Mack Robinson
------------------------------
J. Mack Robinson
President

DELTA FIRE & CASUALTY
INSURANCE COMPANY

November 3, 2003 By /s/ J. Mack Robinson
------------------------------
J. Mack Robinson
President

November 3, 2003 /s/ Robert S. Prather, Jr.
------------------------------
Robert S. Prather, Jr.

AMERICAN SOUTHERN
INSURANCE COMPANY

November 3, 2003 By /s/ Scott Thompson
------------------------------
Scott Thompson
President

ASSOCIATION CASUALTY
INSURANCE COMPANY

November 3, 2003 By /s/ Diane Morris
------------------------------
Diane Morris
President