Alles,
You might want to check this out. It looks like you aren't the only one ...
http://forums.fedoraforum.org/showthread.php?t=59051
Quoting from post #24 of that site (page 3 I believe):
"Ok here was my fix.. As strange as it sounds...
When I booted up my computer from the DVD.. I typed mediacheck, it would give me an error, I then typed linux mediacheck and everything worked find... I'm using FC4 now...
If I just typed linux mediacheck first I would get the same error 'kernel panic' ..
For some strange reason it only works if I type mediacheck first then linux media check...
I have installed FC4 twice this way... Hope others find this helpfull..."
gizza23,
If all goes well, you just put Fedora Core 4 disk 1 in the cdrom, boot off of it and follow the directions. It's very easy if everything works correctly.