'<major politician> engaged in a <criminal activity>'. No way to verify. If genuinely fake news, delete - no fine, not delete - big fine. If true, delete - no fine, not delete - risk of fine, which may or may not be returned later, depending on how powerful said politician is...
So the end result is that only news from entities explicitly allowed by the government are safe to keep.
Here's a funny thing: the only government that's not going to abuse this is the one that's not hiding anything nefarious! So the end result is: all stories that uncover really bad things about the government are going to disappear, and the entity that made/published it is going to be labelled 'fake news' if it wasn't already. Which means the only way for a media entity to survive is to self-censor.