It means reporting it without mentioning that “little” fact is not the whole truth. In other words, a lie.
If you mean that as a critique of the news source, then fine, each person has his own preferences for how many details are necessary in any given report. But in no sense does this alter the basic fact that LOST creates what amounts to a taxing authority, nor does it change the underlying nature of that authority simply because the U.S. executive branch (whoever that turns out to be at any given time) has veto power over those decisions.