Right, but under the definition of fake news that is frequently given, Fox News is not fake news. It is very clear they are bias, based on the way they cover certain news stories, and they frequency of stories that are pro-conservative/anti-liberal vs. pro-liberal/anti-conservative.
But fake news goes far beyond bias. It is the spreading of information that is blatantly untrue in every respect and can cause harm to people. I think it is a no brainer that those who spread a "story" that Clinton was part of a child sex ring, Clinton could have sued and won, under slander.
I would take it a bit further. Any news source that posts disinformation that leads to people getting hurt or strengthens radicalist tenancies in the US should be a free target to law enforcement agencies. Even in the US, they would be a hard target, due to the very nature of proving they posted disinformation with malicious intent, but law enforcement agencies should have the option to open investigations into sources of media such as this.