FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

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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(Print or Type Responses)
1. Name and Address of Reporting Person *
SHEAN CHRISTOPHER W
   2. Issuer Name and Ticker or Trading Symbol
Liberty Media Corp [LMCA] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Senior VP, CFO
(Last)
(First)
(Middle)
12300 LIBERTY BLVD.		 3. Date of Earliest Transaction (Month/Day/Year)
11/28/2011
(Street)

ENGLEWOOD, CO 80112		 4. If Amendment, Date 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
(City)
(State)
(Zip)
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)
Code V Amount (A) or (D) Price
Series A Liberty Starz Common Stock 11/28/2011   D(1)   5,132 D (1) 0 D  
Series A Liberty Starz Common Stock 11/28/2011   D(1)   314 D (1) 0 I By 401(k) Savings Plan
Series A Liberty Capital Common Stock 11/28/2011   A(1)   4,522 A (1) 18,129 D  
Series A Liberty Capital Common Stock 11/28/2011   A(1)   276 A (1) 4,070 (2) I By 401(k) Savings Plan

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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 Security: 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
Stock Option (right to buy) $ 24.36 11/28/2011   D(3)     510   (4) 02/28/2013 Series A Liberty Starz Common Stock 510 $ 0 0 D  
Stock Option (right to buy) $ 27.64 11/28/2011   A(3)   449     (4) 02/28/2013 Series A Liberty Capital Common Stock 449 $ 0 449 D  
Stock Option (right to buy) $ 33.72 11/28/2011   D(3)     6,760   (4) 03/29/2014 Series A Liberty Starz Common Stock 6,760 $ 0 0 D  
Stock Option (right to buy) $ 38.26 11/28/2011   A(3)   5,957     (4) 03/29/2014 Series A Liberty Capital Common Stock 5,957 $ 0 5,957 D  
Stock Option (right to buy) $ 36.31 11/28/2011   D(3)     6,856   (5) 12/24/2014 Series A Liberty Starz Common Stock 6,856 $ 0 0 D  
Stock Option (right to buy) $ 41.2 11/28/2011   A(3)   6,042     (5) 12/24/2014 Series A Liberty Capital Common Stock 6,042 $ 0 6,042 D  
Stock Option (right to buy) $ 26.03 11/28/2011   D(3)     16,921   (5) 12/16/2015 Series A Liberty Starz Common Stock 16,921 $ 0 0 D  
Stock Option (right to buy) $ 29.54 11/28/2011   A(3)   14,911     (5) 12/16/2015 Series A Liberty Capital Common Stock 14,911 $ 0 14,911 D  
Stock Option (right to buy) $ 47.7 11/28/2011   D(3)     14,093   (5) 12/17/2016 Series A Liberty Starz Common Stock 14,093 $ 0 0 D  
Stock Option (right to buy) $ 54.13 11/28/2011   A(3)   12,419     (5) 12/17/2016 Series A Liberty Capital Common Stock 12,419 $ 0 12,419 D  
Stock Option (right to buy) $ 51.21 11/28/2011   D(3)     56,630   (6) 03/19/2020 Series A Liberty Starz Common Stock 56,630 $ 0 0 D  
Stock Option (right to buy) $ 58.11 11/28/2011   A(3)   49,907     (6) 03/19/2020 Series A Liberty Capital Common Stock 49,907 $ 0 49,907 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
SHEAN CHRISTOPHER W
12300 LIBERTY BLVD.
ENGLEWOOD, CO 80112		       Senior VP, CFO  

Signatures

 /s/ Pamela L. Coe as Attorney-in-fact for Christopher W. Shean   11/30/2011
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) On November 28, 2011, Liberty Media Corporation ("Liberty") converted all outstanding shares of its Liberty Starz common stock into shares of its Liberty Capital common stock (the "Conversion"). In the Conversion, (i) each outstanding share of Series A Liberty Starz common stock was converted into 0.88129 of a share of Series A Liberty Capital common stock and (ii) each outstanding share of Series B Liberty Starz common stock was converted into 0.88129 of a share of Series B Liberty Capital common stock, with cash paid in lieu of the issuance of fractional shares in each case. The Conversion was effected by action of the Liberty board of directors in accordance with Article IV, Section A.2(b)(ii) of Liberty's restated certificate of incorporation.
(2) The number of shares reported as held in the reporting person's 401(k) is based on a statement from the Plan Administrator as of October 31, 2011.
(3) All outstanding equity awards with respect to Series A Liberty Starz common stock and Series B Liberty Starz common stock (each such equity award a "LSTZ equity award") were automatically converted into equity awards with respect to Series A Liberty Capital common stock and Series B Liberty Capital common stock, respectively (each such equity award a "LCAP equity award"). Each LCAP equity award remains subject to the terms and conditions of the corresponding LSTZ equity award in all material respects. The number of shares of Liberty Capital common stock subject to such LCAP equity award was determined by multiplying the shares of Liberty Starz common stock subject to the LSTZ equity award by 0.88129. The per share exercise price or per share base price, as applicable, of each LCAP equity award is equal to the per share exercise price or per share base price, respectively, of the LSTZ equity award divided by 0.88129.
(4) The option is fully vested.
(5) The option vests quarterly over four years, starting on the date the option was originally granted.
(6) The option vests in three equal installments on June 30, 2013, June 30, 2014 and December 31, 2015.
 
Remarks:
In connection with the completion of the Conversion, on November 29, 2011 the trading symbol for Series A Liberty Capital common stock changed from LCAPA to LMCA and the trading symbol for Series B Liberty Capital common stock changed from LCAPB to LMCB.

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