Individuals and entities can be sued for libel and slander. In fact, the two defamation terms can include damage to ones reputation. In general, a libel accusation includes published remarks that cause harm to an individuals reputation.
For example,media outlets can be charged with liable if they blatantly published material which they know to be false and that information causes harm to a persons reputation. If however the media claims to have a confidential source, they may not be sued for liable.
Cases that include liable and slander can sometimes be difficult to prove. Confidential sources are protected and if a media organization wishes to keep that information confidential, there would be no evidence to suggest they were guilty of liable or slander. Instead, there would need to be proof that they knowingly published false or misleading information.