verb (used with object), privatized, privatizing.
to transfer from public or government control or ownership to private enterprise: a campaign promise to privatize some of the public lands.
to make exclusive; delimit or appropriate: special-interest groups attempting to privatize social issues.
Also, especially British, privatise.

1945–50; private + -ize

privatization, noun Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
Cite This Source Link To privatize
World English Dictionary
privatize or privatise (ˈpraɪvɪˌtaɪz)
(tr) to transfer (the production of goods or services) from the public sector of an economy into private ownership and operation
privatise or privatise
privati'zation or privatise
privati'sation or privatise

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Example sentences
The current administration is trying to privatize it to make its operations
  more transparent and efficient.
Let's privatize the big college sports programs and make them a self supporting
  part of the university.
Right now it gives the players the opportunity to privatize the intellectual
  development, to control it to fit their market needs.
There is s steady trend amongst local governments to privatize services such as
  garbage collection and emergency medical response.
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