Liberty Media Corporation Announces Meeting Date and Record Date for 2007 Special Stockholders Meeting

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ENGLEWOOD, Colo., Sept. 5 /PRNewswire-FirstCall/ -- A Special Meeting of Stockholders of Liberty Media Corporation ("Liberty") (Nasdaq: LCAPA and LINTA) will be held on October 23, 2007, at 9:00 a.m. local time at the Denver Marriott South at Park Meadows, 10345 Park Meadows Drive, Littleton, Colorado. The record date for the special meeting is 5:00 p.m., New York City time, on September 6, 2007.

Holders of record of Liberty Capital common stock and Liberty Interactive common stock as of the record date will be entitled to vote at the special meeting on a series of proposals related to the proposed reclassification of the Liberty Capital common stock into two new tracking stocks, one to retain the designation Liberty Capital common stock, and the other to be designated as Liberty Entertainment common stock. Liberty has filed a preliminary proxy statement/prospectus related to the proposals to be submitted for stockholder approval at the special meeting. Investors are encouraged to read the preliminary proxy statement/prospectus, the registration statement on Form S-4 to be filed with the Securities and Exchange Commission, together with the definitive proxy statement/prospectus forming a part of the registration statement, and all documents incorporated by reference therein because they contain important information about Liberty and these proposals. A copy of the preliminary proxy statement/prospectus is available, and once filed a copy of the registration statement and the definitive proxy statement/prospectus will be available, free of charge at the SEC's website (http://www.sec.gov).

Subject to the prior effectiveness of Liberty's registration statement, Liberty anticipates that it will commence mailing on September 13, 2007, to holders of Liberty Capital common stock and Liberty Interactive common stock as of the record date a Notice of Internet Availability of Proxy Materials. The Notice will inform holders of the electronic availability of the proxy materials described above and will describe other important information concerning the proxy solicitation.

Nothing in this release shall constitute a solicitation to buy or an offer to sell Liberty's tracking stocks. The offer and sale of Liberty's tracking stocks in the reclassification will only be made pursuant to Liberty's effective registration statement.

Participants in Solicitation

The directors and executive officers of Liberty and other persons may be deemed to be participants in the solicitation of proxies in respect of proposals to approve the reclassification. Information regarding Liberty's directors and executive officers and other participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, are available in the preliminary proxy statement/prospectus filed with the SEC and will be available in the definitive proxy statement/prospectus to be filed with the SEC.

Liberty Media Corporation owns interests in a broad range of electronic retailing, media, communications and entertainment businesses. Those interests are attributed to two tracking stock groups: the Liberty Interactive group, which includes Liberty's interests in QVC, Provide Commerce, IAC/InterActiveCorp, and Expedia, and the Liberty Capital group, which includes Liberty's interests in Starz Entertainment, News Corporation, and Time Warner. For more information, please see http://www.libertymedia.com.

For additional information, contact John Orr at (720) 875-5622.

SOURCE Liberty Media Corporation

Released September 5, 2007