"We live in an era of rapidly proliferating social media, a by-product of which is fake news. The pervasive menace of fake news now threatens to destroy the credibility of media," Naidu said.
"Under such circumstances, you must be prepared to effectively tackle and disprove fake news by taking control of the narrative. You must devise creative solutions to contain fake news. You must tackle paid news with the same zeal too," he added.
The Vice President was addressing at the centennial celebrations of here of the premier Odia daily Samaja.
He said media must remain honest and truthful and act with great restraint.
"In view of the tremendous responsibility it holds, media must remain honest and truthful and act with great restraint, responsibility, placing the welfare of the common man and the progress of the nation at the centre of all its activities," said Naidu.
He said media must also expose loopholes in the democratic system, which ultimately helps government in filling vacuums and gaps, making the system more accountable, responsive and citizen-friendly.
"A democracy without media is akin to a vehicle without any wheels. A free and fair media is not just a part of a healthy democracy but is an indispensable prerequisite," said the Vice President.
"TRPs, circulation figures and bottom lines, though important, must not dictate your path. Media must shun tendency to sensationalize and must take care to stick to facts dispassionately and steadfastly and must diligently desist from mixing news and views," he added.
He said media must get rid of established prejudices and give voice to the expectations of youth, women, farmers and entrepreneurs.
Odisha Chief Minister Naveen Patnaik said the media is like oxygen for democracy, which can be strengthened with independent media.
Among others, Odisha Governor Ganeshi Lal and Union Petroleum Minister Dharmendra Pradhan were present on the occasion.
( With inputs from IANS )