I think so, based on their recent lawsuit-happy behavior. The latest is a charge against comedian Al Franken for using the three words “Fair and Balanced” in the title of his new book. Read the NY Times article if you feel like going through their retarded sign up/log on process. Otherwise you can just be outraged and make angry phone calls.
Also last month, Fox News threatened to sue a small Austin, TX-based website that is mocking them by selling funny t-shirts. Read about it here.