Visual information about an upcoming target can be used to prepare an appropriate motor response and reduce its reaction time. However, when the anticipation is incorrect and the planned response must be changed, the reaction time is lengthened. Here, we investigated the brain mechanisms associated with the reliability and validity of visual information used for motor preparation. We recorded brain activity using magnetoencephalography (MEG) during a delayed reaching task in which a visual cue provided valid information about the location of the upcoming target with 50, 75 or 100% reliability. We found that reaction time increased as cue reliability decreased and that trials with invalid cues had longer reaction times than trials with valid cues. MEG channel analysis showed that beta-band power from left mid-anterior channels correlated with the reliability of the cue after cue onset but before target onset. This effect was source localized over a large motor-related cortical and subcortical network. In addition, during invalid-cue trials there was a phasic increase of theta-band power following target onset from left posterior channels, localized to the left occipito-parietal cortex. Furthermore, the theta-beta cross-frequency coupling between left mid-occipital and motor cortex also transiently increased before responses to invalid-cue trials. In conclusion, beta-band power in motor-related areas reflected the reliability of visual information used during motor preparation, whereas phasic theta-band activity signaled whether the target was at the expected location or not. These results elucidate mechanisms of interaction between attentional and motor processes.Significance StatementWe used magnetoencephalography to investigate how the brain mechanisms preparing a motor response take into account the reliability of information about the upcoming location of a target to reach, and how these mechanisms adjust when that information turns out to be incorrect. We found that during the response preparation, the power of motor-related beta-band oscillations changed with the reliability of the visual information. In addition, we found that after the onset of the target the power of the left occipito-parietal theta-band signaled whether the prior information was correct or not. The pattern of activity of the beta-band and theta-band explain the pattern of latency of responses in the task, and demonstrate how attentional and motor processes interact.