From the fcc.gov website:
Broadcasting false content during news programming
Date Last Updated/Reviewed: Friday, January 5, 2018
The FCC is prohibited by law from engaging in censorship or infringing on First Amendment rights of the press. It is, however, illegal for broadcasters to intentionally distort the news, and the FCC may act on complaints if there is documented evidence of such behavior from persons with direct personal knowledge.
https://www.fcc.gov/consumers/guides/broadcasting-false-information
FAKE NEWS is technically ILLEGAL!