Terry wasn't arguing that there wasn't fake news before the internet, but that it would be easier to create and make it seem legitimate. Harder to suss out the origins than you would something in real life. And it's not just biased news, like the way two clocks might give a slightly different time, but actual fake news and 'facts'.
This is not true. There are fake news that have existed for thousands of years (religion), and the mass communication seems to have a negative impact even on those strongholds of fiction.