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Fake News has been around for decades and with the advent of social media and modern day journalism at its peak, detection of media-rich fake news has been a popular topic in the research community. Given the challenges associated with detecting fake news research problem, researchers around the globe are trying to understand the basic characteristics of the problem statement. This paper aims to present an insight on characterization of news story in the modern diaspora combined with the differential content types of news story and its impact on readers. Subsequently, we dive into existing fake news detection approaches that are heavily based on text-based analysis, and also describe popular fake news data-sets. We conclude the paper by identifying 4 key open research challenges that can guide future research.
Parikh et al. (2018) studied this question.