This article investigates the question of who should control the media to prevent negative production externalities produced by both companies and the media themselves. The reason why the problem evolves is explained in the introduction. Next in the literature review different opinions are examined in order to understand the topic from general topics such as liberalist ideology to Marxist ideology, monopolization of industries and the effects of private property on society and opinions on who should own the average. Next, the conflict that developed in Turkey between Aydin Dogan and the Turkish Prime Minister, Recep Tayyip Erdogan, is examined in order to understand the effects of media ownership by private capital owners and government involvement in the media. Finally, in the concluding section, the paper concludes that the media should be privately owned, however, the owners should not engage in other activities. Furthermore, monopolization of the media should be prevented to avoid the centralization of power in the hands of private capital owners. Introduction The negative effects of the production of goods on third parties, i.e. negative externalities of production, become a more important issue as the world has started to feel the effects of global warming and climate change in the last decade. However, regulatory and government response may not always be sufficient to eliminate or limit the production of goods with negative externalities as quickly as humankind changes. Legal change evolves as a reaction to appropriate cases emerging in a court of law that can influence change (Keenan & Riches, 2007). Furthermore, other approaches taken by governments to bring the level of social costs and benefits into balance are not the ideal approach to eliminate the problems that sincerely afflict the world in the long term. Therefore, the real solution for the elimination of negative production externalities which derive directly from the personal interest in cutting costs to the detriment of damage to society, can only be solved by creating an inverse linear relationship between the profitability of companies and the quantity of negative externalities they produce. In this process, the media, as an industry that has the power to communicate information to the masses and that holds the power to let pressure groups voice their demands, could play the main role. However, in different control systems, such as private ownership or government control, media power is used in different ways.