SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* ROSENTHALER ALBERT E (Last) (First) (Middle) 12300 LIBERTY BLVD. (Street) ENGLEWOOD CO 80112 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol LIBERTY MEDIA CORP [ LCAPA ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) Senior Vice President
	3. Date of Earliest Transaction (Month/Day/Year) 09/03/2010
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Series A Liberty Capital Common Stock	09/03/2010		M		1,132	A	$11.27	19,497	D
Series A Liberty Capital Common Stock	09/03/2010		S		1,132	D	$47.99(1)	18,365	D
Series A Liberty Capital Common Stock	09/03/2010		M		3,168	A	$15.96	21,533	D
Series A Liberty Capital Common Stock	09/03/2010		S		3,168	D	$47.99(1)	18,365	D
Series A Liberty Capital Common Stock	09/03/2010		M		3,213	A	$17.26	21,578	D
Series A Liberty Capital Common Stock	09/03/2010		S		3,213	D	$47.99(1)	18,365	D
Series A Liberty Capital Common Stock	09/03/2010		M		3,131	A	$23.28	21,496	D
Series A Liberty Capital Common Stock	09/03/2010		S		3,131	D	$47.99(1)	18,365	D
Series A Liberty Capital Common Stock								1,006(2)	I	By 401(k) Savings Plan

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	$11.27	09/03/2010		M			1,132	(3)	02/28/2013	Series A Liberty Capital Common Stock	1,132	$0	0	D
Stock Option (right to buy)	$15.96	09/03/2010		M			3,168	(4)	03/29/2014	Series A Liberty Capital Common Stock	3,168	$0	3,172	D
Stock Option (right to buy)	$17.26	09/03/2010		M			3,213	(5)	12/24/2014	Series A Liberty Capital Common Stock	3,213	$0	6,431	D
Stock Option (right to buy)	$23.28	09/03/2010		M			3,131	(6)	12/17/2016	Series A Liberty Capital Common Stock	3,131	$0	21,917	D

Explanation of Responses:

1. The price reported in Column 4 of Table I is a weighted average price. These shares were sold in multiple transactions at prices ranging from $47.91 to $48.16, inclusive. The reporting person undertakes to provide to Liberty Media Corporation, any security holder of Liberty Media Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range.

2. The number of shares represents equivalent shares based on the fair market value of the shares of Series A Liberty Capital Common Stock, Series A Liberty Interactive Common Stock and Series A Liberty Starz Common Stock held by the unitized stock fund under the Issuer's 401(k) Savings Plan based on a report from the Plan Administrator dated as of August 31, 2010. The Reporting Person has an interest in the unitized fund, which holds shares of Series A Liberty Capital Common Stock, Series A Liberty Interactive Common Stock, Series A Liberty Starz Common Stock and short-term investments.

3. The option was granted on 12/28/2006 and vested in full on 2/28/10.

4. The option was granted on 3/29/2007 and vests quarterly on June 29, Sept. 29, Dec. 29 and March 29 over four years.

5. The option was granted on 12/24/2007 and vests quarterly on March 24, June 24, Sept. 24 and December 24 over four years.

6. The option was granted on 12/17/2009 and vests quarterly on March 17, June 17, September 17 and December 17 over four years.

Remarks:

The trading symbol for the Issuer's Series A Liberty Capital Common Stock is LCAPA.

	/s/ Charles Y. Tanabe, Attorney-in-fact	09/08/2010
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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