D DDDDDDDDDDDDDDDDDDDDDD (sorry I have to put at least 20 characters)
Over exaggerated
In the context of this passage, which is talking about how Facebook is attempting to cut down on incorrect, fake, or 'sensationalized' news, the word clearly means news that is not true or over exaggerated in a way that makes it 'click bait'-something that isn't clear, objective content.
The author wants you to know the purpose of the quote or title he puts in it “The Red umbrella”
Explanation:
Red is a color of beauty and an umbrella is the resistance to sky's and humans' attacks.