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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 LACqVVYKkMTHttaBJJbN/Byf3RAo8F2Dvda8QNCxk9g7BOcAe2T9vH89rryMBw0Z
 +9Lx2jNbAs73q1R/ty8+Yw==

<SEC-DOCUMENT>0001179110-04-012078.txt : 20040602
<SEC-HEADER>0001179110-04-012078.hdr.sgml : 20040602
<ACCEPTANCE-DATETIME>20040602171727
ACCESSION NUMBER:		0001179110-04-012078
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040601
FILED AS OF DATE:		20040602

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LIBERTY MEDIA CORP /DE/
		CENTRAL INDEX KEY:			0001082114
		STANDARD INDUSTRIAL CLASSIFICATION:	CABLE & OTHER PAY TELEVISION SERVICES [4841]
		IRS NUMBER:				841288730
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		12300 LIBERTY BLVD.
		CITY:			ENGLEWOOD
		STATE:			CO
		ZIP:			80112
		BUSINESS PHONE:		7208755400

	MAIL ADDRESS:	
		STREET 1:		12300 LIBERTY BLVD.
		CITY:			ENGLEWOOD
		STATE:			CO
		ZIP:			80112

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			RAPLEY DAVID E
		CENTRAL INDEX KEY:			0001195192

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16615
		FILM NUMBER:		04845159

	BUSINESS ADDRESS:	
		STREET 1:		720 EAST RIM ROAD
		CITY:			FRANKTOWN
		STATE:			CO
		ZIP:			80116
		BUSINESS PHONE:		3038148762

	MAIL ADDRESS:	
		STREET 1:		720 EAST RIM ROAD
		CITY:			FRANKTOWN
		STATE:			CO
		ZIP:			80116
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-06-01</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001082114</issuerCik>
        <issuerName>LIBERTY MEDIA CORP /DE/</issuerName>
        <issuerTradingSymbol>L; LMC.B</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001195192</rptOwnerCik>
            <rptOwnerName>RAPLEY DAVID E</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O LIBERTY MEDIA CORPORATION</rptOwnerStreet1>
            <rptOwnerStreet2>12300 LIBERTY BLVD.</rptOwnerStreet2>
            <rptOwnerCity>ENGLEWOOD</rptOwnerCity>
            <rptOwnerState>CO</rptOwnerState>
            <rptOwnerZipCode>80112</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable></nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Appreciation Right</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>11.00</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2004-06-01</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>11000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2005-06-01</value>
            </exerciseDate>
            <expirationDate>
                <value>2014-06-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Series A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>11000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>11000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes></footnotes>

    <ownerSignature>
        <signatureName>/s/ David E. Rapley</signatureName>
        <signatureDate>2004-06-02</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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