Howard Kurtz's WaPo column sums it up:

Jon Stewart ripped the cable news networks Monday as a "brutish, slow-witted beast" and castigated Fox News in particular as "an appendage of the Republican Party." This Story

Wearing a gray T-shirt, khaki pants and a healthy stubble, the "Daily Show" host told reporters at a University of Denver breakfast that Fox's "fair and balanced" slogan is an insult "to people with brains" and that only "Fox News Sunday" host Chris Wallace "saves that network from slapping on a bumper sticker...Barack Obama could cure cancer and they'd figure out a way to frame it as an economic disaster."

Then Fox News shot back...ahem anonymously:

A Fox News spokesman, who was authorized to give the network's response to Stewart's comments but declined to be named, replied that "Jon's clearly out of touch," citing a Pew Research Center study showing the network has the most balanced audience in cable news, 39 percent Republicans and 33 percent Democrats. "But being out of touch with mainstream America is nothing new to Jon, as evidenced by the crash-and-burn ratings of this year's Oscars telecast."

Straight from the network that brought us the 'terrorist fist jab' - an assessment of American reality.