v.
Pronunciation: ' pr ī -v ə - ˌ t ī z
Function: transitive verb
Date: 1948
: to make private especially : to change (as a business or industry) from public to private control or ownership
– pri · vat · i · za · tion \ ˌ pr ī -v ə -t ə - ' z ā -sh ə n \ noun