I have a hard time with this, because it is difficult to police news correctly, and such a thing should not be the responsibility of government. Lets not pretend like our governments haven't lied to us time and time again, and if we allow them to decide what is real and what is not we will have nothing but propaganda.
At the same time, all reporting creates objectivity. One of the most interesting assignments I've done in college was reporting on a particular simple topic that everyone else in the class was also to report on.
The result? Thirty different takes, some similar, some vastly different, all of which reflected on the reporter themselves despite all effects to remain completely neutral.
The other part is, well, whether the article is entirely false or not reporting creates objectivity whether you believe it or not. One of things I remember outlined was the idea that certain reports get you to think in a sense of 'yay' or 'nay' in which the truth may be far more complex and in between.
So in a way, something should be done about fake news, but again, this should not be at the hands of government.
Part of this issue has to do with the new age of media, in which anyone and everyone can become a reporter, fueling the truth or their own interests.
Non-profit organizations without commercial interests do exist, like propublica.
This entire issue has been on the rise partly because of a variety of reports covering the subject. John Oliver covered the rise of fake news in his last episode, which includes a two week report from Anderson Cooper on the subject:
Keep in mind, this is only two weeks and one social media website. I have read and heard of thousands more like this, including many from big corporate interests who aim to make 'news' in their own favor.
In the book 'Dark Money' (a book about the Koch brothers) it outlines how big companies use social media and a variety of other tactics to control public opinion and thus keep interests in their favor. Example: Global Climate Change.
So I completely agree that some effort should be made to combat these interests and keep them from completely destroying the truth.