Corporate governance structure is the system factor that influences corporate behaviors. In order to exploring the relationship between internal governance and financing structure(measured by asset-liability ratio), 22 listed companies of media industry are researched on by using secondary data analysis. The results show that in the listed companies of media industry, owners can not affect the corporate financing structure; while both the Board and the manager can. What is more, managers play the role by centralized control of enterprise and they prefer debt financing.