Development and proliferation of new media have made ethical issues more complicated and multidimensional. The presence of children as users and content generators in new media has been the common source of concern regarding the possibilities of their exposure to harmful content and abuse. The new legislative regulations proposed quell this concern has brought a new concern regarding the possibility of the growth of government control over freedom of expression. In this study, it is suggested that ethical regulations must be discussed to minimize demands for legislative regulations that may restrict freedoms. Therefore, we try to detect the parties and their responsibilities in the development of proper content for the children in new media. Thus, this paper aims at contributing to the discussions on developing ethical principles and behavioral codes in accordance with specific characteristics of new media while producing content that consider the best interests of the child.