NEW YORK (Standard&Poor's) Dec. 5, 2003--Standard&Poor's Ratings Services said today that Liberty Media Corp.'s (BBB-/Stable/--) repurchase of 25 million shares of its common stock (valued at roughly $270 million based on public trading prices) from Comcast Corp. and discussions regarding potential repurchases of 96 million shares of series B stock from the Magness family for cash and series A shares, do not affect the rating or outlook on Liberty. The ratings and outlook assume that the cash portion of any Magness purchases, together with any additional repurchase activity will be executed at a judicious pace and will remain well within the company's free cash flow. If the rate of share buybacks accelerates beyond this level, Standard
