FORM 4

      Check this box if no longer subject to Section 16.  Form 4 or Form 5 obligations may continue.
See Instruction 1(b).

(Print or Type Responses)

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, Section
17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the
Investment Company Act of 1940

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 1. Name and Address of Reporting Person *

(Last)            (First)              (Middle)

(Street)

(City)       (State)          (Zip)

 2. Issuer Name and Ticker
    or Trading Symbol

Liberty Media Corporation
L, LMC.B, LMC.RT

 3. I.R.S. Identification
    Number of Reporting
    Person, if an entity
    (voluntary)

 4. Statement for
 (Month/Day/Year)

November 25, 2002

 5. If Amendment, Date of
   Original (Month/Day/Year)

 6. Relationship of Reporting Person(s) to Issuer

(Check all applicable)

  X   Director

  X   10% Owner

  X   Officer (give title below)

      Other (specify below)

Chairman of the Board

 7. Individual or Joint/Group
     Filing (Check Applicable Line)

  X   Form filed by One Reporting Person

      Form filed by More than One Reporting Person

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 Common Stock

11/25/02

X

13

A

$6.00 per share

D

Series A Common Stock

11/27/02

X

781,096

A

$6.00 per share

10,714,116

D

Series A Common Stock

11/27/02

X

1,000,000

A

$6.00 per share

1,000,000

I

By GRAT

Series A Common Stock

11/27/02

X

1,000,000

A

$6.00 per share

1,000,000

I

By GRAT

Series A Common Stock

11/27/02

X

800,000

A

$6.00 per share

800,000

I

By GRAT

Series A Common Stock

11/27/02

X

800,000

A

$6.00 per share

800,000

I

By GRAT

Series A Common Stock

11/27/02

X

188,670

A

$6.00 per share

1,495,969

I

By spouse (fn1)

Series A Common Stock

784,146

I

By 401(k) Savings Plan (fn2)

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 Underlying Securities
(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 of Derivative Securities: 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

Subscription Rights (right to buy) (fn3)

$6.00

11/25/02

X

13

Immed.

12/2/02

Series A Common Stock

13

D

Subscription Rights (right to buy) (fn3)

$6.00

11/27/02

X

781,096

Immed.

12/2/02

Series A Common Stock

781,096

0

D

Subscription Rights (right to buy) (fn3)

$6.00

11/27/02

X

1,000,000

Immed.

12/2/02

Series A Common Stock

1,000,000

0

I

By GRAT

Subscription Rights (right to buy) (fn3)

$6.00

11/27/02

X

1,000,000

Immed.

12/2/02

Series A Common Stock

1,000,000

0

I

By GRAT

Subscription Rights (right to buy) (fn3)

$6.00

11/27/02

X

800,000

Immed.

12/2/02

Series A Common Stock

800,000

0

I

By GRAT

Subscription Rights (right to buy) (fn3)

$6.00

11/27/02

X

800,000

Immed.

12/2/02

Series A Common Stock

800,000

0

I

By GRAT

Subscription Rights (right to buy) (fn3)

$6.00

11/27/02

X

188,670

Immed.

12/2/02

Series A Common Stock

188,670

0

I

By spouse (fn1)

Explanation of Responses:

(fn1)  The reporting person has disclaimed beneficial ownership of these shares of the Issuer’s Series A Common Stock and Subscription Rights owned by his spouse.  (fn2)  Between 7/27/01 and 9/30/02 the reporting person acquired 49,067 shares of the Issuer’s Series A Common Stock under the Issuer’s 401(k) Savings Plan.  The information in this filing is based on a report from the Plan Administrator as of 9/30/02.  Participants in the Issuer’s 401(k) Savings Plan have the right to direct the vote and, in certain circumstances, the disposition of shares of Series A Common Stock held in the plan for the benefit of the participant.  All of the shares held in the plan for the benefit of the reporting person are vested.  (fn3)  The rights offering is subject to termination or extension by Liberty Media Corporation at any time prior to consummation.

** Signature of Reporting Person

Date