The media of the world may be facing a crisis more serious than a media economy in free fall, a crisis involving the foundations itself: Trust. Not the trust in the single newspiece or the single publication, but the entire idea of editorially controlled news mass media.
Fake News has been around forever.
And by itself, fake news poses little threat beyond the need for increased alertness. But fake news attacks society’s system for information sharing. It’s casting shadows of doubt over the credibility of media, and creating the impression that the media is offering just one of several possible truths, thus making it sort of optional which facts you care to relate to.
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Reuters Institute for the Study of Journalism 2017