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Fox News, fake news and Republican Spin

I understand why an elected Republican would want to put a different spin on any issue in order to make the President look good. I also understand that there is a fine line between political spin and fake news. Since Trump constantly lies and refers to factual news as fake news if it is critical of him, the bar has been lowered. What I don’t understand is how Fox News can repeat lies, repeat fabrications, exaggerations and fake news and get away with it. The “liberal” media is fake news? Just watch Fox News for 5 minutes and see how biased, prejudicial and pro Trump/Republican Party it is. There is no honest or fair reporting at all! A few days ago, one of their journalists referred to a mix marriage between a Korean and a person of a different country/race as “scary”! How can this country allow such distasteful journalism. It is similar to government propaganda TV in Russia and North Korea. Are there no ethic rules that TV News stations have to follow?