<SUBMISSION>
<ACCESSION-NUMBER>0001179110-07-024090
<TYPE>4
<PUBLIC-DOCUMENT-COUNT>2
<PERIOD>20071221
<FILING-DATE>20071226
<DATE-OF-FILING-DATE-CHANGE>20071226
<ISSUER>
<COMPANY-DATA>
<CONFORMED-NAME>LIBERTY MEDIA CORP
<CIK>0001355096
<ASSIGNED-SIC>4841
<IRS-NUMBER>841288730
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<BUSINESS-ADDRESS>
<STREET1>12300 LIBERTY BOULEVARD
<CITY>ENGLEWOOD
<STATE>CO
<ZIP>80112
<PHONE>7208755400
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>12300 LIBERTY BOULEVARD
<CITY>ENGLEWOOD
<STATE>CO
<ZIP>80112
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>Liberty Media Holding CORP
<DATE-CHANGED>20060303
</FORMER-COMPANY>
</ISSUER>
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>MALONE JOHN C
<CIK>0000937797
<STATE-OF-INCORPORATION>CO
<FISCAL-YEAR-END>1231
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>4
<ACT>34
<FILE-NUMBER>000-51990
<FILM-NUMBER>071327341
</FILING-VALUES>
<BUSINESS-ADDRESS>
<PHONE>7208755400
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>LIBERTY MEDIA CORP
<STREET2>12300 LIBERTY BLVD
<CITY>ENGLEWOOD
<STATE>CO
<ZIP>80112
</MAIL-ADDRESS>
</REPORTING-OWNER>
<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>2007-12-21</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0000937797</rptOwnerCik>
            <rptOwnerName>MALONE JOHN C</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>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Chairman of the Board</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Series A Liberty Interactive Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2007-12-21</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>5</transactionFormType>
                <transactionCode>G</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value>E</value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>77000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2665497</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Series A Liberty Interactive Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>825</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Trust</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Series A Liberty Interactive Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>376260</value>
                    <footnoteId id="F3"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Spouse</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Series A Liberty Interactive Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>273</value>
                    <footnoteId id="F4"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By 401(k) Savings Plan</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable></derivativeTable>

    <footnotes>
        <footnote id="F1">192,331 of these shares were previously reported as being held indirectly by the Issuer's 401(k) Savings plan.</footnote>
        <footnote id="F2">The Reporting Person is the sole trustee of and, with his spouse, retains a unitrust interest in the trust.</footnote>
        <footnote id="F3">The Reporting Person disclaims beneficial ownership of these shares owned by his spouse.</footnote>
        <footnote id="F4">The number of shares represents equivalent shares based on the fair market value of the shares of Series A Liberty Interactive 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 November 30, 2007.  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 and short-term investments.</footnote>
    </footnotes>

    <remarks>The trading symbol for the Issuer's Series A Liberty Interactive Common Stock is LINTA.</remarks>

    <ownerSignature>
        <signatureName>/s/ Debra A. Anderssen, Attorney-in-fact</signatureName>
        <signatureDate>2007-12-26</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>poalmcjcm.txt
<TEXT>
POWER OF ATTORNEY


Know all by these presents, that the undersigned
hereby constitutes and appoints each of Charles Y.
Tanabe, Maureen Sturgeon, Craig Troyer,and
Debra A. Anderssen, signing singly, the undersigned's
true and lawful attorney-in-fact to:

1. Execute for and on behalf of the undersigned a Form 4
in accordance with Section 16(a) of the Securities
Exchange Act of 1934 and the rules thereunder; and

2. Do and perform any and all acts for and on behalf of
the undersigned which may be necessary or desirable to
complete and execute any such Form 4, complete and execute
any amendment or amendments thereto, and timely file such
form with the United States Securities and Exchange
Commission and any stock exchange or similar authority.

The undersigned hereby grants to each such attorney-in-fact
full power and authority to do and perform any and every act
and thing whatsoever requisite, necessary, or proper to be
done in the exercise of any of the rights and powers herein
granted, as fully to all intents and purposes as the
undersigned might or could do if personally present,
with full power of substitution or revocation, hereby
ratifying and confirming all that such attorney-in-fact,
or such attorney-in-fact's substitute or substitutes,
shall lawfully do or cause to be done by virtue of this
power of attorney and the rights and powers herein granted.
The undersigned acknowledges that the foregoing
attorneys-in-fact, in serving in such capacity at
the request of the undersigned, are not assuming,
nor is Liberty Media Corporation ("Liberty") assuming,
any of the undersigned's responsibilities to comply
with Section 16 of the Securities Act of 1934, and the
undersigned agrees to indemnify and hold harmless each of
the attorneys-in-fact from any liability or expense based
on or arising from any action taken pursuant to this Power
of Attorney.

The attorneys-in fact have the right to request that the
undersigned provide as soon as  possible written confirmation
of the transaction and the signing and filing of a Form 4 on
behalf of the undersigned.

This Power of Attorney shall remain in full force and effect
until the undersigned is no longer required to File Form 4 with
respect to the undersigned's holdings of and transactions in
securities issued by Liberty, unless earlier revoked by the
undersigned in a signed writing delivered to the foregoing
attorneys-in-fact.

IN WITNESS WHEREOF, the undersigned has caused this Power of
Attorney to be executed as of this 22nd day of January, 2007.



/s/ John C. Malone
Signature

John C. Malone
Print Name
</TEXT>
</DOCUMENT>
</SUBMISSION>
