Fake news is information that is clearly and demonstrably fabricated and that has been packaged and distributed to appear as legitimate news. Fake news refers to a specific piece of information; it does not refer to any particular type of news outlet, individual, or other actor.

Propaganda is misleading or highly biased information that is specifically designed to confirm or promote a particular ideological viewpoint. Propaganda is distinct from fake news in that it originates from politically motivated actors with the intention of driving public discussion, apart but not separate from financial and ideological gain.

Misleading or out-of-context information does not on its own constitute fake news. This kind of information is not wholly fabricated, and it can exist within a news report that is based on actual events that occurred.

Conspiracy theory is an explanation or interpretation of events that is based on questionable or nonexistent evidence of a supposed secret plan by a group -- often governments and mainstream media outlets -- to obscure events. 

Clickbait pieces are articles that feature headlines designed to get people to click on them, often by presenting a misleading or warped sense of what the post is about.

Satire is writing or art designed to make social commentary based on mockery and imitation of real-life events or actors. Satire is different from fake news in that its purpose is to entertain or inspire consumers, rather than to deceive them.

“Understanding the Fake News Universe.” Media Matters for America, 15 Dec. 2016.