I think that statement is a conflation of two strains, however.
There is what you are mostly referring to, which is "mainstream media" news based on actual research and reports, but spun to a narrative and unreliably screened. That went on all the time as you say.
There is still what started the "fake news" label which are 100% fabricated stories based on zero research, sometimes promoted as "satirical" that are taken as real and spread as propaganda. THAT, I think has indeed exploded in the past few years.
"If fighting is sure to result in victory, then you must fight! Sun Tzu said that, and I'd say he knows a little bit more about fighting than you do, pal, because he invented it, and then he perfected it so that no living man could best him in the ring of honor. Then, he used his fight money to buy two of every animal on earth, and then he herded them onto a boat, and then he beat the crap out of every single one. And from that day forward any time a bunch of animals are together in one place it's called a zoo! (Beat) Unless it's a farm!"