Intentionally misleading and deceptive fake news is different from obvious satire or parody which is intended to humor rather than mislead its audience. Fake news often employs eye-catching headlines or entirely fabricated news stories to increase readership, online sharing and Internet click revenue. In the latter case, it is similar to sensational online "clickbait" headlines and relies on advertising revenue generated from this activity, regardless of the veracity of the published stories. Fake news also undermines serious media coverage and makes it more difficult for journalists to cover significant news stories.
It is also a ways and means for 'them' to get rid of genuine alternative news web sites that are reporting the true version of world events. Versions that the powers that be don't want the people to know. It's effectively a 'electronic paper burn' .... back to the middle ages when the major libraries of the world were destroyed to suppress information that was banned by the powers that be. The wheel coming round again. Many of the creators of the fake news are actually the powers that be agencies ... a perfect problem-reaction-solution.