-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 IRpojj2E4eZoL/8MP509B8jDZ/7yjJ7dtcsmmQisgMw05axXopWE2Nasfomj3ixb
 Mg9NEfgiM4GeOTaLSqcqGQ==

<SEC-DOCUMENT>0001179110-07-007060.txt : 20070402
<SEC-HEADER>0001179110-07-007060.hdr.sgml : 20070402
<ACCEPTANCE-DATETIME>20070402151445
ACCESSION NUMBER:		0001179110-07-007060
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20070329
FILED AS OF DATE:		20070402
DATE AS OF CHANGE:		20070402

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			MAFFEI GREGORY B
		CENTRAL INDEX KEY:			0001099636

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-51990
		FILM NUMBER:		07738273

	MAIL ADDRESS:	
		STREET 1:		2401 FOUTH AVE
		STREET 2:		SUITE 1100
		CITY:			SEATTLE
		STATE:			WA
		ZIP:			98121

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LIBERTY MEDIA CORP
		CENTRAL INDEX KEY:			0001355096
		STANDARD INDUSTRIAL CLASSIFICATION:	CABLE & OTHER PAY TELEVISION SERVICES [4841]
		IRS NUMBER:				841288730
		FISCAL YEAR END:			1231

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

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

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Liberty Media Holding CORP
		DATE OF NAME CHANGE:	20060303
</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>2007-03-29</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001355096</issuerCik>
        <issuerName>LIBERTY MEDIA CORP</issuerName>
        <issuerTradingSymbol>LCAP; LINT</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001099636</rptOwnerCik>
            <rptOwnerName>MAFFEI GREGORY B</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>12300 LIBERTY BLVD.</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>ENGLEWOOD</rptOwnerCity>
            <rptOwnerState>CO</rptOwnerState>
            <rptOwnerZipCode>80112</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>President, CEO</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable></nonDerivativeTable>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>109.27</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2007-03-29</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>112600</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2014-03-29</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Series A Liberty Capital Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>112600</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>112600</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Stock Option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>24.06</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2007-03-29</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>453900</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2014-03-29</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Series A Liberty Interactive Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>453900</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>453900</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The stock option vests quarterly over four years.</footnote>
    </footnotes>

    <remarks>The trading symbols for the Series A and Series B Liberty Capital Common Stock are LCAPA and LCAPB, respectively, and for the Series A and Series B Liberty Interactive Common Stock are LINTA and LINTB, respectively.</remarks>

    <ownerSignature>
        <signatureName>/s/ Gregory B. Maffei</signatureName>
        <signatureDate>2007-04-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----