SEC FORM 4

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

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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^*

MAFFEI GREGORY B

(Last)

(First)

(Middle)

12300 LIBERTY BLVD.

(Street)

ENGLEWOOD

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)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	President, CEO

3. Date of Earliest Transaction (Month/Day/Year)
09/23/2011

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Series A Liberty Capital Common Stock	09/23/2011		J⁽¹⁾		522,322	A	⁽¹⁾	522,322	D
Series A Liberty Capital Common Stock	09/23/2011		J⁽¹⁾		2,343	A	⁽¹⁾	2,343⁽²⁾	I	By 401(k) Savings Plan
Series A Liberty Starz Common Stock	09/23/2011		J⁽¹⁾		42,261	A	⁽¹⁾	42,261	D
Series A Liberty Starz Common Stock	09/23/2011		J⁽¹⁾		3,665	A	⁽¹⁾	3,665⁽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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Option (right to buy)	$10.88	09/23/2011		J⁽³⁾		275,000		⁽⁴⁾	11/08/2012	Series A Liberty Capital Common Stock	275,000	$0	275,000	D
Stock Option (right to buy)	$11.36	09/23/2011		J⁽³⁾		15,625		⁽⁴⁾	03/02/2013	Series A Liberty Capital Common Stock	15,625	$0	15,625	D
Stock Option (right to buy)	$15.96	09/23/2011		J⁽³⁾		112,600		⁽⁴⁾	03/29/2014	Series A Liberty Capital Common Stock	112,600	$0	112,600	D
Stock Option (right to buy)	$17.26	09/23/2011		J⁽³⁾		114,606		⁽⁵⁾	12/24/2014	Series A Liberty Capital Common Stock	114,606	$0	114,606	D
Stock Option (right to buy)	$3.57	09/23/2011		J⁽³⁾		333,747		⁽⁵⁾	12/16/2015	Series A Liberty Capital Common Stock	333,747	$0	333,747	D
Stock Option (right to buy)	$23.28	09/23/2011		J⁽³⁾		1,353,000		⁽⁶⁾	12/17/2019	Series A Liberty Capital Common Stock	1,353,000	$0	1,353,000	D
Stock Option (right to buy)	$23.57	09/23/2011		J⁽³⁾		110,000		⁽⁴⁾	11/08/2012	Series A Liberty Starz Common Stock	110,000	$0	110,000	D
Stock Option (right to buy)	$24.53	09/23/2011		J⁽³⁾		6,250		⁽⁴⁾	03/02/2013	Series A Liberty Starz Common Stock	6,250	$0	6,250	D
Stock Option (right to buy)	$33.72	09/23/2011		J⁽³⁾		45,040		⁽⁴⁾	03/29/2014	Series A Liberty Starz Common Stock	45,040	$0	45,040	D
Stock Option (right to buy)	$36.31	09/23/2011		J⁽³⁾		45,842		⁽⁵⁾	12/24/2014	Series A Liberty Starz Common Stock	45,842	$0	45,842	D
Stock Option (right to buy)	$26.03	09/23/2011		J⁽³⁾		137,365		⁽⁵⁾	12/16/2015	Series A Liberty Starz Common Stock	137,365	$0	137,365	D
Stock Option (right to buy)	$47.7	09/23/2011		J⁽³⁾		760,000		⁽⁶⁾	12/17/2019	Series A Liberty Starz Common Stock	760,000	$0	760,000	D

Explanation of Responses:

1. On September 23, 2011, Liberty Interactive Corporation (formerly known as Liberty Media Corporation, "Old Liberty") redeemed (the "Redemption") all of the shares of its Liberty Capital common stock and Liberty Starz common stock for shares of common stock of the Issuer (formerly known as Liberty CapStarz, Inc.). In the Redemption, Old Liberty redeemed (i) each outstanding share of its Series A Liberty Capital common stock for one share of the Issuer's Series A Liberty Capital common stock, (ii) each outstanding share of its Series B Liberty Capital common stock for one share of the Issuer's Series B Liberty Capital common stock, (iii) each outstanding share of its Series A Liberty Starz common stock for one share of the Issuer's Series A Liberty Starz common stock, and (iv) each outstanding share of its Series B Liberty Starz common stock for one share of the Issuer's Series B Liberty Starz common stock.

2. The number of shares reported as held in the reporting person's 401(k) is based on a statement from the Plan Administrator dated as of August 31, 2011.

3. All outstanding equity awards with respect to Old Liberty's Series A Liberty Capital common stock, Series B Liberty Capital common stock, Series A Liberty Starz common stock and Series B Liberty Starz common stock (each such equity award an "original equity award") were automatically converted into equity awards with respect to the Issuer's Series A Liberty Capital common stock, Series B Liberty Capital common stock, Series A Liberty Starz common stock and Series B Liberty Starz common stock, respectively (each such equity award a "new equity award"). Each new equity award remains subject to the terms and conditions of the corresponding original equity award.

4. The option is fully vested.

5. The option vests quarterly over four years, starting on the grant date.

6. The option vests in two equal installments on December 17, 2013 and December 17, 2014.

Remarks:

The trading symbol for the Issuer's Series A Liberty Capital Common Stock is LCAPA [LCPAD] and Series A Liberty Starz Common Stock is LSTZA [LSTAD]. Temporary trading symbols in effect from September 26, 2011 to September 30, 2011 are indicated in brackets.

	/s/ Gregory B. Maffei	09/27/2011
	** Signature of Reporting Person	Date
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