The study assessing media ownership influence on ethical practices among journalists in Osun State. The assertion that says “he who pays the pipers dictates the tunes” agreed more with this study because there are lots of direct and indirect ownership controls and influence on journalists and media houses especially those working with the state media. The research was anchored on Social Responsibility Theory and The Ethical Utilitarian Theory. Survey research method as a quantitative research design was adopted in carrying out this study. The data collection instrument used in collecting data for this study is questionnaire which was administered to 150 respondents who were journalists in Osun State. 142 copies of questionnaire was returned. The data collected were analysed in frequency and percentage with tables. Findings show that substantial number of the respondents agreed that ownership influence cannot be rule out of media control and who access the media. Although, there is more freedom for the press in the new Freedom of Information Act, yet, the freedom is not absolute but it is still better than the days of military and colonial master. It is recommended that media owners should not allow the commercial interest to drive them from the media social responsibility expected of it in society while media owners should allow it employee exercise professionalism in their day to day activities to boost and maintain the media objectivity and credibility of the media because “source is the news” i.e credibility of the information will be determined by the credibility of the media.