What Defines Fake News?

The term “fake news” has been added to our popular vernacular; but what is it? Is it leaving out facts, reporting from a position of bias or simply designing a narrative? It may include all three and it is certainly intended to bolster and convey the news outlet’s world view.
Unfortunately, the great majority of news reported isn’t news at all, but simply an acknowledgement of the news producer’s own beliefs.

Consider the facts in this short video.