In large soup kettle, cook bacon over medium heat until crisp. Remove bacon, leaving drippings.
Add potatoes, onions and celery to drippings; cook and stir 5 minutes. Add milk, reserved clam liquid, thyme and pepper; mix well. Reduce heat to med-low; cover and simmer 15-20 min or until vegetables are tender.
Carefully transfer 2 cups hot mixture to blender or food processor; process until smooth. Return mixture to kettle. Stir in both cans of corn and clams. Return to a boil. Reduce heat; simmer 4-6 min or until thoroughly heated, stirring occasionally.
Crumble reserved bacon; sprinkle over chowder.
Nutrition Info Per Serving: Calories 391 Total Fat 10 g Cholesterol 36 mg Sodium 539 mg Potassium 1148 mg Total Carbohydrate 58 g Dietary Fiber 5 g Sugars 12 g Protein 22 g