It isn't just Fox News, but all American news networks. Yes, Fox has an obvious slant to the right and then, almost in an act of facetiousness, claim to be fair and balanced. Any news network that would hire Rachel Maddow, also is obviously slanted as well.
It is the job of the media and the press to report facts and the truth in service to the citizens of this country to keep them informed. It is not there to play politics or interject personal opinion and ideologies in the guise of journalism. All media outlets serve the will of and follow the agenda of their owners. It is used to shape the zeitgeist and manipulate public discourse by spinning the language, distorting or perverting the facts, focusing news attention on things that are meant to distract or invoke a particular emotional response in the public etc.
The news media outlet, whether conservative or liberal, is delivering news in a way similar to how store fronts sell things out front to hide the mob operation in the back room. The reality of it is that money and consolidation of power are the ones that are shaping the content broadcasted to manipulate, distract, and control the public.
The press doesn't do what they existed to accomplish in the first place anymore, to give a voice to the common citizenry. Now it simply exists as a sycophant which is channeling propaganda.
The problem is that there seems to be a growing trend in this country that all opinions are valid, regardless if they are supported by facts, figures, science or reality. Fox News is a symptom of that trend. It panders to Middle Americans who like to get enraged whenever they are presented with something that contradicts what they already "know" to be true, based on their "common sense".