Sec Form 4 Filing - ESTATE OF BOB MAGNESS @ LIBERTY MEDIA CORP /DE/ - 2004-03-03

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 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 ESTATE OF BOB MAGNESS 2. Issuer Name and Ticker or Trading Symbol LIBERTY MEDIA CORP /DE/ [ L; LMC.B] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director X __ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) C/O RAYMOND L. SUTTON, BAKER & HOSTETLER, 303 EAST 17TH STREET, SUITE 1100 3. Date of Earliest Transaction (MM/DD/YY) 03/03/2004 (Street) DENVER, CO80203 4. If Amendment, Date Original Filed (MM/DD/YY) 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 (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 03/03/2004 J( 1 ) 77,757,994 A 105,032,157 D

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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 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 Series B Common Stock ( 2 ) 03/03/2004 J( 1 ) 70,850,108 ( 2 ) ( 2 ) Series A Common Stock ( 2 ) ( 1 ) 0 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other ESTATE OF BOB MAGNESS C/O RAYMOND L. SUTTON, BAKER & HOSTETLER 303 EAST 17TH STREET, SUITE 1100 DENVER, CO80203 X Signatures /s/ Gary Magness, Personal Representative 03/03/2004 Signature of Reporting Person Date

Explanation of Responses:

( 1 )On March 3, 2003 the Estate of Bob Magness completed a transaction with Liberty Media Corporation in which it received all 77,757,994 shares of Series A Common Stock for all of its Series B Common Stock at a ratio of 1.0975 shares of Series A Common Stock for each share of Series B Common Stock. As a result of this transaction the reporting person ceased to own more than 10% of any class of Liberty Media Corporation securities. ( 2 )Each share of Series B Common Stock is convertible, at the holder's election, into one share of Series A Common Stock, at any time for no consideration other than the surrender of the share of the Series B Common Stock for each share of Series A Common Stock.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* 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).

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