<SUBMISSION>
<ACCESSION-NUMBER>0001104659-09-062542
<TYPE>425
<PUBLIC-DOCUMENT-COUNT>1
<FILING-DATE>20091104
<DATE-OF-FILING-DATE-CHANGE>20091104
<SUBJECT-COMPANY>
<COMPANY-DATA>
<CONFORMED-NAME>LIBERTY MEDIA CORP
<CIK>0001355096
<ASSIGNED-SIC>4841
<IRS-NUMBER>841288730
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>425
<ACT>34
<FILE-NUMBER>001-33982
<FILM-NUMBER>091158177
</FILING-VALUES>
<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
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<FORMER-CONFORMED-NAME>Liberty Media Holding CORP
<DATE-CHANGED>20060303
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<ASSIGNED-SIC>4841
<IRS-NUMBER>841288730
<FISCAL-YEAR-END>1231
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>425
</FILING-VALUES>
<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
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<FILENAME>a09-32905_1425.htm
<DESCRIPTION>425
<TEXT>

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<p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Filed by Liberty
Media Corporation pursuant to Rule&nbsp;425</font></p>

<p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">under the
Securities Act of 1933.</font></p>

<p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="right" style="margin:0pt 0pt .0001pt 19.8pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Subject Company: Liberty Media Corporation</font></p>

<p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Commission File
No.: 001-33982</font></p>

<p align="right" style="margin:0pt 0pt .0001pt 19.8pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Subject Company: Liberty Entertainment,&nbsp;Inc.</font></p>

<p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Commission File
No.: 333-158795</font></p>

<p align="right" style="margin:0pt 0pt .0001pt;text-align:right;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:4.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">[LOGO]</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">LIBERTY MEDIA CORPORATION</font></b></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">NOTICE OF PARTIAL REDEMPTION</font></b></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">OF LIBERTY ENTERTAINMENT COMMON STOCK</font></b></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant
to Section&nbsp;A.2.(f)(iv)&nbsp;of the Restated Certificate of Incorporation
(the &#147;<u>Charter</u>&#148;) of Liberty Media Corporation, a Delaware corporation
(the &#147;<u>Company</u>&#148;), the Company hereby notifies you, as a holder of shares
of Liberty Entertainment common stock that if certain conditions more fully
described herein are satisfied, the Company intends to redeem 90% of the
outstanding shares of Liberty Entertainment common stock for all of the
outstanding shares of the common stock of Liberty Entertainment,&nbsp;Inc. (&#147;<u>LEI</u>&#148;),
a wholly owned subsidiary of the Company.&#160;
The redemption and the resulting separation of LEI from the Company is
referred to as the &#147;<u>Split-Off</u>&#148; and is more fully described in the
Company&#146;s proxy statement (the &#147;<u>Proxy Statement</u>&#148;), dated October&nbsp;20,
2009, mailed to holders of record of Liberty Entertainment common stock as of
5:00&nbsp;p.m. NYC time, on October&nbsp;9, 2009, which is the record date for
the special meeting of holders of Liberty Entertainment common stock to be held
on November&nbsp;19, 2009, at 9:30&nbsp;a.m. NYC time (the &#147;<u>Special Meeting</u>&#148;).&#160; Please contact D.F. King&nbsp;&amp; Co.,&nbsp;Inc.
at (800) 628-8532 for a copy of the Proxy Statement or with any questions
regarding the Special Meeting.</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If
the proposal relating to the Split-Off receives the requisite stockholder
approval at the Special Meeting, and assuming all other conditions to the
Split-Off are satisfied or waived, including the satisfaction or waiver of all
conditions to the DTV Business Combination described below, the Company intends
to redeem at the close of business on November&nbsp;19, 2009 (the &#147;<u>Redemption
Date</u>&#148;), 0.9 of each outstanding share of Liberty Entertainment common stock
held by you as of the close of business on the Redemption Date for 0.9 of a
share of the corresponding series of common stock of LEI, and you will retain
0.1 of a share of Liberty Entertainment common stock that is not redeemed. In
lieu of receiving or retaining any fractional shares in connection with the
Split-Off, you will instead receive cash in an amount equal to the product of
the applicable fraction multiplied by the average of the high and low reported
sales prices on the Nasdaq Global Select Market for the applicable series of
Liberty Entertainment common stock on the Redemption Date.</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Upon
completion of the Split-Off, LEI will hold Liberty Media&#146;s 57% interest in The
DIRECTV Group,&nbsp;Inc. (&#147;<u>DIRECTV</u>&#148;), a 100% interest in Liberty Sports
Holdings, LLC, a 65% interest in Game Show Network, LLC and approximately $80
million in cash and cash equivalents, together with approximately $2 billion of
indebtedness. All of the businesses, assets and liabilities currently
attributed to Liberty Media&#146;s Entertainment Group that are not held by LEI would
remain with Liberty Media and continue to be attributed to the Entertainment
Group. These assets consist primarily of a 100% interest in Starz Entertainment
LLC and cash and cash equivalents, which will be tracked by the shares of
Liberty Entertainment common stock that are not redeemed. Following the
Split-Off, the Company will change the name of the Entertainment Group to the
Starz Group and the Liberty Entertainment common stock to the Liberty Starz
common stock&#160;&#160; For more information about
the assets and liabilities of LEI and the Entertainment Group as well as
additional information about the timing, process and procedures relating to the
Split-Off, please review the Proxy Statement.</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

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<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Subject
to the satisfaction or waiver of all applicable conditions, the business
combination transaction among the Company, LEI and DIRECTV and certain other
persons (the &#147;<u>DTV Business Combination</u>&#148;) will be completed immediately
following the Split-Off, and each of LEI and DIRECTV will become wholly owned
subsidiaries of a new public company to be named DIRECTV (&#147;<u>Holdings</u>&#148;).&#160; In the DTV Business Combination, (i)&nbsp;each
share of LEI Series&nbsp;A common stock you received in the Split-Off will be
exchanged for 1.11111 shares of&#160; Holdings
Class&nbsp;A common stock (subject to adjustment), and (ii)&nbsp;each share of
LEI Series&nbsp;B common stock you received in the Split-Off will be exchanged
for 1.11111 shares of&#160; Holdings Class&nbsp;A
common stock (subject to adjustment) (other than with respect to any LEI Series&nbsp;B
shares received by the Company&#146;s Chairman of the Board John C. Malone and
certain related persons in the Split-Off, which shares will be contributed
separately to Holdings). Mr.&nbsp;Malone and certain related persons will
contribute each of their shares of LEI Series&nbsp;B common stock to Holdings
for 1.11111 shares of Holdings Class&nbsp;B common stock (subject to
adjustment). In lieu of receiving any fractional shares in connection with the
DTV Business Combination, you will instead receive cash in an amount equal to
your pro rata share of the net proceeds from the sale by&#160; the exchange agent in the public market of
the aggregate fractional shares of Holdings common stock to be issued in the
DTV Business Combination.&#160; For more
information about the assets and liabilities of Holdings as well as additional
information about the timing, process and procedures relating to the DTV
Business Combination, please review the Proxy Statement.</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If
you hold certificated shares of Liberty Entertainment common stock, you will
receive a letter of transmittal from Computershare Trust Company, N.A., the
exchange agent, with instructions on how to surrender the certificated shares
of Liberty Entertainment common stock that are to be redeemed in exchange for
shares of the corresponding series of LEI common stock in the Split-Off and, in
turn, shares of the applicable class of Holdings common stock in the DTV
Business Combination.&#160; You must surrender
your stock certificates together with the duly executed letter of transmittal
(and any other documentation required thereby) to Computershare, Corporate
Actions, P.O.&nbsp;Box 43014, Providence, RI 02940-3014, in order to exchange
your certificates.&#160; You will also receive
new certificates in exchange for the shares of Liberty Entertainment common
stock not subject to redemption (and to be renamed Liberty Starz common stock)
that are represented by a surrendered certificate.&#160; <b>Please do not send your
stock certificates to Computershare without a duly executed letter of
transmittal.</b></font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">If
you hold shares of Liberty Entertainment common stock in book-entry form you
will not need to take any action to receive shares of LEI common stock in the
Split-Off and, in turn, shares of Holdings common stock in the DTV Business
Combination.&#160; Rather, your account will
be debited for the applicable series and number of shares to be redeemed in the
Split-Off and promptly thereafter credited with the applicable consideration
deliverable to you in exchange therefor. No letter of transmittal will be
delivered to you if you hold shares of Liberty Entertainment common stock in
book-entry form.</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:36.0pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">If any of the conditions to the Split-Off or the DTV Business
Combination are not satisfied or waived by the close of business on November&nbsp;19,
2009, the Split-Off will not occur on the projected Redemption Date of November&nbsp;19,
2009</font></b><font size="2" style="font-size:10.0pt;">.&#160; In this event, the Company
reserves the right to establish and announce a new Redemption Date which would
occur upon the satisfaction or waiver of the remaining conditions to the
Split-Off, including the earlier of (i)&nbsp;the satisfaction or waiver of the
remaining conditions to the DTV Business Combination or (ii)&nbsp;the
termination of the merger agreement with DIRECTV.</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:36.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">As
soon as practicable following the Special Meeting, the Company will issue a
press release announcing the effective date and time of the Split-Off.</font></p>

<p style="margin:0pt 0pt .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0pt 0pt .0001pt;text-indent:288.0pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">November&nbsp;4,
2009</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0pt 0pt .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

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