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Personally, I'd argue the following to be "fake news"

* Completely made-up

* Kernel of truth with context completely removed (see far-Right, far-Left, and sensationalist papers)

That leaves quite a bit of partisan news in the gray-but-OK zone, including several partisan sites that seem to solely exist to signal boost the most embarrassing and negative news of their opponents.

Perhaps the most clever thing, that you note, is the far-fringe groups are now calling the center Mainstream Media "fake news" as well. Which is the height of clever co-opting to me.

EDIT: formatting

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