Hitting Fox in the pocketbook doesn't work if they earn more from their lies thru increased cable demand fees than they pay out to the companies they've smeared.

The market isn't going to self-correct here. We need to find a way to actually stop the lies.

Bringing back the Federal Communications Commission (FCC) Fairness Doctrine (abolished by Reagan's FCC in 1987), and applying it to Cable and Broadcast, would help so much with our Fox problem. Growing up, American news media was different, and opinion shows were balanced between left and right.
The Supreme Court upheld the Fairness Doctrine in 1969, but Reagan's FCC repealed it and then we got Rush Limbuagh, starting the decline to what we see today.
https://en.wikipedia.org/wiki/FCC_fairness_doctrine
FCC fairness doctrine - Wikipedia

@danwentzel Does the FCC even have the authority to regulate content anywhere other than the (decreasingly relevant) "public airwaves"?
@StevenCapsuto I believe Congress could pass a law expanding the FCC's authority to regulate content to include cable, but there would no doubt be a fierce court battle over it.