The Collaborative International Dictionary of English v.0.48:

minimize \min"i*mize\ (m[i^]n"[i^]*m[imac]z), v. t. [imp. & p.
   p. minimized (m[i^]n"[i^]*m[imac]zd); p. pr. & vb. n.
   minimizing (m[i^]n"[i^]*m[imac]*z[i^]ng).]
   1. To reduce to the smallest part or proportion possible; to
      reduce to a minimum. --Bentham.
      [1913 Webster]

   2. To represent, to oneself or others, as of no importance or
      minimal importance or effect; to belittle or disarage.
      [PJC]

The Collaborative International Dictionary of English v.0.48:

minimized \minimized\ adj.
   Reduced to the smallest possible size or amount or degree.
   [WordNet 1.5]

The Collaborative International Dictionary of English v.0.48:

decreased \decreased\ adj.
   made less in size or amount or degree. Opposite of
   increased. [Narrower terms: attenuate, attenuated, faded,
   weakened; belittled, diminished, small; cut, cut-rate;
   diminished, lessened; minimized; remittent;
   attenuated]

   Syn: reduced.
        [WordNet 1.5]

WordNet (r) 3.0 (2006):

minimized
    adj 1: reduced to the smallest possible size or amount or degree

Moby Thesaurus II by Grady Ward, 1.0:

31 Moby Thesaurus words for "minimized":
   abated, ablated, attenuated, bated, belittled, consumed,
   contracted, curtailed, decreased, deflated, diminished, dissipated,
   dropped, eroded, fallen, less, lesser, lower, lowered,
   miniaturized, reduced, retrenched, scaled-down, shorn, shorter,
   shrunk, shrunken, smaller, watered-down, weakened, worn