IMO, it's all a game of cat and mouse...
By jumping on the "liberal media" bandwagon, Trump can continue claiming media bias. The fact that the media got their predictions wrong on the election outcome was only the first reason given for the public to distrust the media. The next step in discrediting the press is in declaring that they present fake news to the public. So now, even if one fact is wrong, Trump can say the press in always inaccurate. Consider what's happening with BuzzFeed right now. Of all the issues to pick out from that dossier, his camp pings on the passport. Why? Well, it's a typical defense lawyer's tactic: Discredit one piece of evidence and all other claims must also be false.
But this goes beyond false reporting of one or two news agencies. This is really about all forms of the free press. Now, any news agency who says something Donald Trump truly doesn't like won't get a place at the presidential press pool. You already saw how that will work when Trump denied CNN a question during his press conference. Now, everyone will have to question what they report or risk getting on Trump's bad side.
Now, in one respect the press has no one but themselves to blame. For much of the print media world hasn't practiced real journalism in a while. Even the mainstream media have played to political bias on occasion. So, they have their work cut out for them. Still, if we the voting public just turn our backs to this story and treat it as if nothing Trump says or does cannot be called into question, then we risk handing over our democracy to the very thing conservatism warns of against...a tyrant.