Fake news is primarily accomplished by reporting stories which are largely factual but emphasized waaaaay beyond any true significance.
Most are not even largely factual.
The worst liars are those who could never be convicted of lying in a court of law, they say things that are technically true but leave a totally false impression. If you were wrongfully convicted of murder and given a choice of being eaten alive by rats, burned at the stake or shot between the eyes and you opted for the bullet they would report that you,”Chose to be shot.”
“Largely factual” is a stretch, IMHO.
Possibly “a scintilla factual”, in many cases.