In truth, Fox News has been defeated on the media battlefield—and on the political battlefield as well. Even the 73-year-old wizard of Fox, Roger Ailes, now in full Lear-raging-on-the-heath mode as ­portrayed in my colleague Gabriel ­Sherman’s definitive new biography, "The Loudest Voice in the Room," seems to sense the waning of his power. The only people who seem not to know or accept Fox’s decline, besides its own audience, are ­liberals, including Barack Obama, whose White House mounted a short-lived, pointless freeze-out of Fox News in 2009, and who convinced himself that the network has shaved five points off his approval rating.