UK:*UK and possibly other pronunciationsUK and possibly other pronunciations/ˈpraɪvətaɪz/US:USA pronunciation: respellingUSA pronunciation: respelling(prīvə tīz′)

Inflections of 'privatize' (v): (⇒ conjugate)
v 3rd person singular (US & UK)
v pres pverb, present participle: -ing verb used descriptively or to form progressive verb--for example, "a singing bird," "It is singing." (US & UK)
v pastverb, past simple: Past tense--for example, "He saw the man." "She laughed." (US & UK)
v past pverb, past participle: Verb form used descriptively or to form verbs--for example, "the locked door," "The door has been locked." (US & UK)

WordReference Random House Unabridged Dictionary of American English © 2020
pri•va•tize  (prīvə tīz′),USA pronunciation v.t.,  -tized, -tiz•ing. 
  1. to transfer from public or government control or ownership to private enterprise:a campaign promise to privatize some of the public lands.
  2. to make exclusive;
    delimit or appropriate:special-interest groups attempting to privatize social issues.
Also,[esp. Brit.,] priva•tise′.  [1945–50;
private + -ize] pri′va•ti•zation, n. 

Collins Concise English Dictionary © HarperCollins Publishers::
privatize, privatise /ˈpraɪvɪˌtaɪz/ vb
  1. (transitive) to transfer (the production of goods or services) from the public sector of an economy into private ownership and operation

ˌprivatiˈzation, ˌprivatiˈsation n

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