X0202 4 2006-01-31 1 0000059229 LIBERTY CORP LC 0001202999 ROACH J THURSTON 463 39TH AVENUE, EAST SEATTLE WA 98112 1 0 0 0 Common Stock 2006-01-31 4 D 0 10780 D 0 D Stock Option (Right to Buy) 33.35 2006-01-31 4 D 0 15000 14.00 D 2011-03-29 Common Stock 15000 0 D Pursuant to merger agreement between issuer and Raycom Media, Inc., all shares converted into right to receive $47.35 in cash as consideration for each share of Common Stock held. Pursuant to merger agreement between issuer and Raycom Media, Inc., this option, which provided for vesting in five equal annual installments beginning March 29, 2002, was cancelled in the merger in exchange for a cash payment representing the difference between the exercise price of the option and $47.35 per share. J. Thurston Roach 2006-01-31