The boss's lawyers must think this will work. Jay Sekulow likely has this figured out. Far be it from me to argue but I will. Libel is hard to prove since you must show intent and that's the hard part. Usually the defense is "ooops, we made a mistake and didn't catch it. Sorry." no intent. There isn't law 1 on the books that say news companies or anyone claiming to convey news to others must actually tell the truth. Free market should keep news people honest by itself cause a lie should be scorned by the people listening and the liar put out of business. We don't have free markets today, so this no longer works. That being said, this board is a news organization and the masses are finding that out much to the dismay of MSM.
What you need to do is put mans teeth in God's law. Go back a few hundred years and take the 10 commandments and attach human punishments to them. Thou shalt not bare false witness or stoned shalt thy be. Or, maybe better yet. return 150 years. Remember when the guy kicked the chair and pulled his colt and said You callin me a liar boy? You lookin for a fight?! Integrity was worth defending to the death back then.