Journalism
1. The collecting, writing, editing, and presenting of news or news articles in newspapers and magazines and in radio and television broadcasts. -American Heritage Dictionary
News
1.a Information about recent events or happenings, especially as reported by newspapers, periodicals, radio, or television. -American Hritage Dictionary
O'Reilly claimed that the 'Paris Business Review' stated loses of billions due to O'Reilly's call to boycott French goods in response to the Iraq war. Going further as to claim that France had lost over 138 million in business revenue since the last year. That newspaper doesn't exist and his claims are false. He claimed multiple (4, across several episodes) times that the Inside Edition, a show he'd previously hosted, had won a Peabody Award(s). This was not true and he retracted his statements. Just a few months later, in response to criticism about his accuracy, O'Reilly stated that there wasn't a single transcript in which he stated that he won that award.
If journalism is reporting news, and news is a composite of recent events, then it stands to reason that journalism cannot be the coverage of events that don't occur. To MobBoss: when you cite a foreign news paper that doesn't exist, making claims that are in no way factual (trade between the US and France increased in the time frame O'Reilly claimed the 138 million dollar drop), it's not news, or, therefore, journalism.
Now, if he's somehow mistaken (maybe the phantom French article appeared to him in a dream), then he may not be a liar, just an idiot. I mean, a two month time frame seems like a reasonable span of time to actually LOOK UP the validity of your statements (especially when someone claims they're false). So, he either new they were false and said them anyway (liar), or didn't know they were false and didn't bother to look up any sort of citation (irresponsible idiot). In any case, if he repeatedly makes claims as to events that don't happen, then it's not news, or journalism. At best, it's yellow journalism, or the fabrication of events in order to acquire media attention and ratings.