Luckily, there are restrictions on actual LIES in the media, though.
Honestly even then libel and defamation are extremely difficult to prove in the court of law. Here are the essential guidelines
-Statement must be false
-Statement must cause damage to the person(s) in question
-Media must have shown blatant disregard for the truth
-The statement must have been made with malicious intent (Thanks New York v. Sullivan)